KUALA LUMPUR (Oct 17):The High Court has granted an ad-interim injunction preventing RHB Bank Bhd from closing two long-standing accounts belonging to shipping company Maritime Network Sdn Bhd. This temporary order will remain in effect pending the hearing of the shipping company’s full application for an injunction.

Counsel P Taneswaran, who is representing Maritime Network, confirmed that Judicial Commissioner Eddie Yeo Soon Chye issued the order during proceedings held in chambers on Thursday.

Maritime Network, through its director Datuk Seri R Jeyenderan and its legal firm Messrs Tanes, Khoo & Paulraj, filed its application on Wednesday. A certificate of urgency had been submitted a day earlier, requesting an immediate hearing.

An ad-interim injunction is a temporary court order typically granted upon the request of one party before a full hearing. Its main purpose is to preserve the status quo — the current state of things — until both sides can present their arguments at a hearing involving all parties.

Court filings show that Jeyenderan sought the ad-interim injunction because the company had received a termination notice from RHB dated Oct 1. The notice stated that the bank intended to close Maritime Network’s two accounts within 14 days of the letter.

Maritime Network has maintained both a multi-currency account and a current account with RHB since Sept 23, 2005.

In its termination letter, the bank cited an "alleged breach of internal policies and guidelines" as the reason for the closure.

Maritime Network contends that RHB failed to specify the policies allegedly breached, which has left the company in “a state of uncertainty” and unable to defend itself against the allegations. The company argues that the bank’s actions were oppressive and had denied the company procedural fairness, claiming the closure was "not driven by any legitimate banking concern".

The current dispute is related to an earlier discovery application filed by Maritime Network regarding the same accounts, to compel RHB Bank Bhd to disclose its internal guidelines and due diligence procedures governing foreign exchange (forex) transactions. The legal action was initiated after Maritime Network found that several international fund transfers into its multi-currency US dollar account had been returned, even though the transfers referenced valid invoices issued by the company.

The discovery application was dismissed by the High Court on July 2. Maritime Network has since filed a notice of appeal, and the Court of Appeal's hearing for that suit is scheduled for December 11.