Public Bank loses final bid to dismiss RM560mil NFCorp lawsuit
PUTRAJAYA: Public Bank Bhd has failed in its final attempt to set aside a RM560 million lawsuit filed by the National Feedlot Corporation (NFCorp) over an alleged breach of contract involving the protection of confidential bank account information.
The Federal Court three-member bench led by Chief Judge of Malaya Datuk Seri Hasnah Mohammed Hashim in a unanimous decision today dismissed the bank's appeal to overturn the Court of Appeal's decision in allowing the suit in August 2023.
The apex court also allowed NFC's cross-appeal, granting it the right to pursue exemplary and aggravated damages in its claim against the bank.
On May 22, 2012, NFCorp, its chairman Datuk Mohamad Salleh Ismail, and the three subsidiary companies filed the suit against Public Bank over breach of contract to protect their bank account confidentiality.
The appellants claimed that the leaked bank account information was used by the then PKR vice president Rafizi Ramli to bolster allegations that the plaintiffs leveraged a government loan to purchase eight KL Eco City properties.
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