Justice Ramly said the panel found that all the issues raised by Metroplex in the appeal proceeding today had been dealt with by the High Court and that the panel was in full agreement with the High Court’s decision.

The court ordered Metroplex to pay RM200,000 in legal costs to OSK Trustees Berhad and Sunway Reit Management Sdn Bhd.

The panel dismissed the first appeal brought by Metroplex against the decision of judicial commissioner Vazeer Alam Mydin Meera on June 28 this year in allowing an originating summons by OSK Trustees Berhad and Sunway Reit Management Sdn Bhd to declare OSK Trustees Berhad the legal owner of the property.

The second appeal, which was also dismissed, was with regard to the decision of the same High Court which had dismissed Metroplex’s application concerning consolidation of two originating summons.

OSK Trustees Berhad had successfully acquired Putra Place in a public auction on March 30 this year on behalf of Sunway REIT with the purchase price of RM513.945mil.

The High Court also ordered Metroplex to deliver possession of Putra Place within 72 hours of the court order. However, Metroplex obtained an order for stay of the decision pending today’s appeal.

The building which comprises a retail shopping mall, an office block, service apartments and a five star hotel and car parking bays, is situated on a piece of land at Lot 38, Section 51 in Kuala Lumpur.

Metroplex had charged the land to Commerce International Merchant Bankers Bhd (CIMB) by way of a third party charge to secure financing facilities granted to the company.

However, there was a default on the charge resulting in foreclosure proceedings on the land whereby the Kuala Lumpur High Court ordered the property to be sold by way of public auction.

Metroplex was represented by lawyer K.Kirubakaran and K.Y. Leong. OSK Trustees by counsel Lambert Rasaratnam and Sunreit by counsel David Lingam. BERNAMA