High Court to rule Oct 23 on bid to stop RHB closing shipping firm’s accounts

The High Court in Kuala Lumpur has set October 23 as the date to rule on a shipping company's attempt to prevent RHB Bank Berhad from closing two of its longstanding accounts. Acting for Maritime Network Sdn Bhd, P. Taneswaran argued that the bank failed to establish any breach of terms or requirements by the plaintiff, indicating the bank owed Maritime Network a fiduciary duty and a duty of care.

In response, Gan Khong Aik from RHB contended that no fiduciary relationship or duty of care existed between the bank and the shipping company, stating that the relationship between a bank and its customer is that of debtor and creditor. The dispute began last year when RHB provided a termination notice on October 1, 2025, stating it intended to close the accounts and terminate all related services within 14 days due to alleged breaches of internal policies and guidelines.

Maritime Network, however, claimed the bank had not specified which policies were allegedly breached, leading to the dismissal of a pre-trial discovery application on July 2, 2025. The company appealed to the Court of Appeal, which ordered RHB to provide its Minimum Due Diligence guidelines governing foreign-exchange transactions within 45 days.

The shipping company further alleged that the bank's vague allegations placed it in a position of uncertainty and demonstrated an intention to oppress rather than protect its legitimate banking interests.