Around 2024, I was approached by an elderly gentleman from Seychelles. He was a prominent construction mogul - no ordinary layman. When we asked for his residential address, it was simply “The Estate of (surname), Seychelles”; his estate even had its own postcode.
He told us he had transferred RM 10 million to a Malaysian business counterparty for investment in durian farms. The pitch was that durians were a high-yield, secure investment with projected returns of 20 to 30 percent per annum.
At first, the debtor gave periodic updates. Then the updates slowed. Eventually, he went silent. My client grew frustrated and decided to pursue legal action.
We took up the case on a Success Fee basis and got to work.
The debtor quickly appointed solicitors in response to our Notice of Demand. His main defense was that the RM 10,000,000 was a gift lol.
Although there was no proper contract (only bank transfer slips and email correspondence) this was a clearly unsustainable defense and contradicted every piece of evidence we had. His overall conduct was evasive, with no real intention to repay.
Seeing no other option, we filed a Writ and commenced litigation.
Trial dates were fixed about a year later.
When the trial day finally arrived, the judge directed parties into chambers for mediation. With crowded dockets, judges prefer parties to resolve matters if possible.
My client was furious. His main issue was not just the money. He felt disrespected. After years of cordial dealings, he believed he had been taken for a ride with endless excuses.
After a long day of back and forth, with several points where settlement seemed impossible, the tone shifted when the debtor began to show genuine remorse.
He apologized openly and said he did not have the financial means to repay the full RM 10 million. My client’s tone softened in response to that humility.
Finally, my client told the judge he was willing to accept RM 1 million in full and final settlement, on one condition: a written, sincere apology.
We were taken aback. That was a 90 percent discount. But my client was firm and made it clear he was satisfied.
“There goes 90 percent of our success fee” I said to my co-counsel.
Ah well. As long as the client is happy.
Rudi Cheu (rudi@rulecolaw.com) is a content creator under the Newswav Creator programme, where you get to express yourself, be a citizen journalist, and at the same time monetize your content & reach millions of users on Newswav. Log in to creator.newswav.com and become a Newswav Creator now!
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