I am sorry for the front size

this is bank securities subject

Assignment 3: Case on Legal Charge, Guarantee, Pledge and Debenture By July 2014, Maybank discovered that Sendaria Bhd had, in January 2011, created a general floating-charged debenture for RM3m on all floating as- sets to secure a debenture loan with Affin Bank. Sendirian Bhd. had lodged Form 34 on that debenture with Companies Corporation of Malaysia. This debenture loan has a current outstanding balance of RM1.5m. Affin Bank is now demanding the RM2m Fixed Deposit from Maybank. Also, by now it is clear that Sendaria Bhd is owing Maybank RM6m and Affin Bank RM1.5m. In 2012, Maybank has granted the following facilities to Sendaria Bhd: Facility Overdraft Amount RM10m Secured against 1) Legal Charge on company's land under HS(D) 2010. The land worth RM8m. Fixed loan RM6m 2) Joint Guarantee for RM10m by all the five (5) company's directors. Based on the above information answer the following questions: - 3) Pledge over the company's Fixed Deposit Receipt of RM2m with Maybank. A. Should Maybank oblige and surrender the Fixed Deposit (FDR) of RM2 million Affin Bank? Justify your answer. to 4) Specific Floating-Charged Debenture on the company's assets valued at RM16m. By March 2013, Sendaria Bhd has defaulted with outstanding balance of RM8m. Maybank immediately liquidated the Fixed Deposit of RM2m and used the proceeds to reduce the loan. The outstanding loan balance was then reduced to RM6m. By April 2014, Maybank obtained a court order to sell the land under HS(D) 3456 by public auction. The estimated market value of the land was RM10m. At the same time Maybank sued the guarantors for RM6m and proceeded to obtain court order to declare them bankrupts unless the guar- antors settle the loan by December 2004. End of document - Assignment 3: Case on Legal Charge, Guarantee, Pledge and Debenture By July 2014, Maybank discovered that Sendaria Bhd had, in January 2011, created a general floating-charged debenture for RM3m on all floating as- sets to secure a debenture loan with Affin Bank. Sendirian Bhd. had lodged Form 34 on that debenture with Companies Corporation of Malaysia. This debenture loan has a current outstanding balance of RM1.5m. Affin Bank is now demanding the RM2m Fixed Deposit from Maybank. Also, by now it is clear that Sendaria Bhd is owing Maybank RM6m and Affin Bank RM1.5m. In 2012, Maybank has granted the following facilities to Sendaria Bhd: Facility Overdraft Amount RM10m Secured against 1) Legal Charge on company's land under HS(D) 2010. The land worth RM8m. Fixed loan RM6m 2) Joint Guarantee for RM10m by all the five (5) company's directors. Based on the above information answer the following questions: - 3) Pledge over the company's Fixed Deposit Receipt of RM2m with Maybank. A. Should Maybank oblige and surrender the Fixed Deposit (FDR) of RM2 million Affin Bank? Justify your answer. to 4) Specific Floating-Charged Debenture on the company's assets valued at RM16m. By March 2013, Sendaria Bhd has defaulted with outstanding balance of RM8m. Maybank immediately liquidated the Fixed Deposit of RM2m and used the proceeds to reduce the loan. The outstanding loan balance was then reduced to RM6m. By April 2014, Maybank obtained a court order to sell the land under HS(D) 3456 by public auction. The estimated market value of the land was RM10m. At the same time Maybank sued the guarantors for RM6m and proceeded to obtain court order to declare them bankrupts unless the guar- antors settle the loan by December 2004. End of document