11:50 Back ANSWER LAW485.docx Syarikat Megah Sdn Berhad charged their factory to Bank Tipu in favor of a credit facility worth RM20 millions. The company later charged the same property to Bank Malas for another credit facility worth RM10 millions. Out of frustration, the shareholders of Syarikat Megah Sendirian Berhad convene a meeting to remove all the directors. However, all the directors who hold the majority shares of the company objected the removal on ground that the meeting was null and void and due to failure to gain the proper majority vote. Since the company fails to serve the credit facility to Bank Malas for few months, Bank Malas seeks to conduct sale of the factory. Bank Tipu on the other hand claims that it has the priority over the second charge of the said factory to Bank Malas. Discuss the rights and liabilities of all parties. Guideline to answer: A. List of issue(s) ***from "B" to "O" is only meant for the first Issue. For second issue and the rest, repeat from "B" to "O" again. B. General Rule based on provisions of the law. C. Apply the provisions of the law to the problem given. D. Conclusion based on the provisions of the law. E. General rule based on principle of cases before (judicial precedent). F. Apply the principle of cases to the problem given. G. Conclusion based on the principle of cases. H. Exception (if any/available) I. Exception rule based on provisions of the law. J. Apply the exception of the law to the problem given. K. Conclusion based on the exception of the law. L. Exception based on principle of cases before M. Apply the principle of cases to the problem given. N. Conclusion based on the principle of cases. O. Overall conclusion (based on General Rule and Exception) ill 4G 11:50 Back ANSWER LAW485.docx Syarikat Megah Sdn Berhad charged their factory to Bank Tipu in favor of a credit facility worth RM20 millions. The company later charged the same property to Bank Malas for another credit facility worth RM10 millions. Out of frustration, the shareholders of Syarikat Megah Sendirian Berhad convene a meeting to remove all the directors. However, all the directors who hold the majority shares of the company objected the removal on ground that the meeting was null and void and due to failure to gain the proper majority vote. Since the company fails to serve the credit facility to Bank Malas for few months, Bank Malas seeks to conduct sale of the factory. Bank Tipu on the other hand claims that it has the priority over the second charge of the said factory to Bank Malas. Discuss the rights and liabilities of all parties. Guideline to answer: A. List of issue(s) ***from "B" to "O" is only meant for the first Issue. For second issue and the rest, repeat from "B" to "O" again. B. General Rule based on provisions of the law. C. Apply the provisions of the law to the problem given. D. Conclusion based on the provisions of the law. E. General rule based on principle of cases before (judicial precedent). F. Apply the principle of cases to the problem given. G. Conclusion based on the principle of cases. H. Exception (if any/available) I. Exception rule based on provisions of the law. J. Apply the exception of the law to the problem given. K. Conclusion based on the exception of the law. L. Exception based on principle of cases before M. Apply the principle of cases to the problem given. N. Conclusion based on the principle of cases. O. Overall conclusion (based on General Rule and Exception) ill 4G