Court of Appeal dismisses JAKS’ bid on bank guarantees

The decision is also part of the company

KUALA LUMPUR: The court has yet again ruled in favour of Star Media Group Bhd paving the way for two financial institutions to release bank guarantees amounting to RM50mil to the media giant.

Yesterday, Star Media Group won at the Court of Appeal quashing an attempt by property development company JAKS Island Circle Bhd (JIC) from getting an Erinford injunction to restrain the financial institutions from releasing the money.