Agreed - win win situation, I think

Last week I wrote, Civil prison - pay up or go to jail. Read here. On Monday, 21/02/2022, both the Judgment Debtors and the Judgment Creditor came to our office to discuses a settlement. Both the Judgment Debtors and the Judgment Creditor were complying with the Judge's directions that any discussion towards settlement must be done in my presence.

It became quite simple when everyone present had the interest of the others in mind. The actual debt due as at 27/09/2019 was RM147,447-75 with interest accruing on the principal sum of RM125,281-65 at 5% per annum from 28/09/2019 till settlement. More of less RM160,000-00 outstanding as at to date.

After a short discussion, and taking into consideration the financial position of both the Judgment Debtors, the Judgment Creditor agreed to accept a sum RM100,000-00 in full and final settlement, on condition that the same is paid before the next hearing date which is fixed on 17/04/2022. Even the Judge had warned, that if the matter is not settled before 17/04'/2022, the Judge will have no other choice but to send both the Judgment Debtors to prison.

I must confess that I have never send anyone top prison before and even the Judge confessed that the Judge has done once thus far.

Well, getting back to the settlement, the Judgment Debtors, will sell a plot each of the land and pay up RM100,000-00 before 17/04/2022.