One of the example of BBA's court case referred to the dispute between Tan Sri Khalid Ibrahim against Bank Islam (M) Berhad (BIMB).
In this case, Tan Sri Khalid defaulted on his RM66.60 million BBA debt obligation obtained from BIMB to purchase Guthrie shares in 2001.
High court ordered Tan Sri to pay USD18.52 million (RM66.67 million) BIMB due to facilities obatained from BIMB. The court ordered without full hearing since this is a common case of default.
Therefore, Tan Sri made an appeal with result that the court of appeal allowed to have full court hearing if the case involving violations of Islamic law.
The client claimed that the BBA contract became invalid when BIMB disposed off the collateral (i.e. Guthrie shares) upon his default. BIMB disposed the shares to recover the defaulted amount owed by the client.
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