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FINANCIAL LAW - Danaharta Act
Related Topics : Banking Law . Broker Disputes . Commodities Law . Investment Terms . Raising Capital . Securities Law . Buying On Hire Purchase . Exchange Control Rules . Danaharta Act

Pengurusan Danaharta Nasional Berhad Act 1998 - No Change in Priorities

#1: Selling Bank lends RM x million to Borrower secured by 1st charge over land
#2: Borrower takes second loan from another bank secured by 2nd charge over the same land
#3: Danaharta acquires Selling Bank's loan through statutory vesting
#4: Danaharta steps into shoes of Selling Bank, takes Selling Bank's rights and obligations under the loan and enjoys same priority as Selling Bank
#5: Other bank continues to have 2nd charge with no change in priority

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