KUALA LUMPUR, Sept. 24 -- In a double courtroom defeat for rail contractor Emrail Sdn Bhd, the High Court has dismissed its RM59.1 million lawsuit against Kuwait Finance House (M) Bhd (KFH) and ordered the company alongside three personal guarantors to pay the bank RM39.09 million.

Justice Quay Chew Soon dismissed Emrail's claim over a disputed performance bond for the Light Rail Transit 3 (LRT3) development in its entirety and allowed KFH's counterclaim in full, holding the contractor and its guarantors jointly and severally liable for the outstanding debt, FMT reported.

The three personal guarantors ordered to satisfy the judgment debt are prominent corporate figures Zaki Azmi, Hari Narayanan Govindasamy, and his son, Amrish.

The lit...