W-02-160-01-2014.pdf - IN THE COURT OF APPEAL...

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IN THE COURT OF APPEAL, MALAYSIA (APPELLATE JURISDICTION) PALACE OF JUSTICE, PUTRAJAYA CIVIL APPEAL NO. W-02-160-01/2014 Appellant ANTARA STEEL MILLS SDN. BHD. v. Respondent CIMB INSURANCE BROKERS SDN. BHD. [In the matter of the High Court of Malaya at Kuala Lumpur Civil Suit No. S-22-696-2009]
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2 [Plaintiff Antara Steel Mills Sdn. Bhd. v . Defendant CIMB Insurance Brokers Sdn. Bhd.] CORAM: MOHD HISHAMUDIN YUNUS, JCA HAMID SULTAN ABU BACKER, JCA UMI KALTHUM ABDUL MAJID, JCA JUDGMENT OF THE COURT Introduction This appeal is against the decision of the learned Judicial Commissioner of the High Court of Kuala Lumpur given on 20 December 2013.
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3 In her decision, the learned Judicial Commissioner had dismissed the appellant s claim against the respondent for damages in the sum of RM9,571,700 for professional negligence committed by the respondent in the course of acting as an insurance broker on behalf of the appellant in the placement of an insurance policy. On 9 December 2014, after hearing submissions, we unanimously allowed the appeal with costs. We now give our grounds. At the High Court the appellant was the plaintiff, whilst the respondent was the defendant. Thus in this judgment we shall use the terms plaintiff and defendant , as the case may be, to refer to the parties. Facts of the case The facts are not disputed. The plaintiff owns a hot briquetted iron plant in the Federal Territory of Labuan. It purchased through its broker, the defendant, an insurance policy known as Industrial All Risks Insurance Policy for the period from 1 January 2005 to 31 December 2005 ( the
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