KUALA LUMPUR - The High Court today rejected Datuk Seri Najib Tun Razak's application to attend the proceedings of the 1Malaysia Development Berhad (1MDB) suit against him and several other individuals.
The hearing involves two applications, the first being an inter-partes Mareva injunction by 1MDB and one of its subsidiaries to prevent the former prime minister from disposing of or reducing the value of any of his assets in Malaysia amounting to US$681 million.
Another application is by Najib to set aside the Mareva injunction obtained by 1MDB and Global Diversified Investment Company Limited (formerly known as 1MDB Global Investments Limited) who are the first and fifth plaintiffs in the suit.
Lawyer Siva Kumar Kanagasabai who represented 1MDB, said Judge Atan Mustaffa Yusoff Ahmad made the decision after hearing the arguments regarding the application of Najib - who is currently serving a 12-year prison sentence in Kajang Prison - to attend the proceedings for both applications.
"The application was rejected without any costs. Apart from that, the court allowed Datuk Seri Najib's request to postpone the hearing for both applications which should have taken place tomorrow," he said when contacted.
Today's proceedings were attended by lawyers Dhanyaa Shreeya Sukumar and Tommy Lim Ka Hui representing 1MDB and lawyers Muhammad Farhan Muhammad Shafee and Alaistair Brandah Norman on behalf of Najib.
A Mareva injunction is an order preventing someone from disposing of property pending the outcome or completion of a legal action.
The injunction also limits Najib from withdrawing no more than RM100,000 per month for living and legal expenses, and if more is required, he would need to get written permission from the lawyers of 1MDB and Global Diversified.
The order also states that Najib must make written disclosure to 1MDB and Global Diversified regarding his assets valued up to US$681 million, whether domestic or overseas, under his own name or otherwise and whether owned solely or jointly with other defendants.
The plaintiffs in the suit are 1MDB, 1MDB Energy Holdings Limited, 1MDB Energy Limited, 1MDB Energy (Langat) Limited and Global Diversified, while Najib, Terrence Geh Choh Heng (former finance director of 1MDB), Jasmine Loo Ai Swan (former 1MDB counsel), Casey Tang Keng Chee (former executive director of 1MDB), Vincent Beng, Radhi Mohamad (former chief financial officer and subsequently chief operating officer) were named as defendants.
Also named as defendants were Kelvin Tan Kay Jim (former investment director) and Nik Faisal Ariff Kamil (former chief executive officer of SRC International Sdn Bhd).
The US$8 billion suit is one of 22 civil suits filed to claim over US$23 billion on behalf of 1MDB and its former subsidiary SRC International, from several individuals allegedly involved in the financial scandal. - BERNAMA
The hearing involves two applications, the first being an inter-partes Mareva injunction by 1MDB and one of its subsidiaries to prevent the former prime minister from disposing of or reducing the value of any of his assets in Malaysia amounting to US$681 million.
Another application is by Najib to set aside the Mareva injunction obtained by 1MDB and Global Diversified Investment Company Limited (formerly known as 1MDB Global Investments Limited) who are the first and fifth plaintiffs in the suit.
Lawyer Siva Kumar Kanagasabai who represented 1MDB, said Judge Atan Mustaffa Yusoff Ahmad made the decision after hearing the arguments regarding the application of Najib - who is currently serving a 12-year prison sentence in Kajang Prison - to attend the proceedings for both applications.
"The application was rejected without any costs. Apart from that, the court allowed Datuk Seri Najib's request to postpone the hearing for both applications which should have taken place tomorrow," he said when contacted.
Today's proceedings were attended by lawyers Dhanyaa Shreeya Sukumar and Tommy Lim Ka Hui representing 1MDB and lawyers Muhammad Farhan Muhammad Shafee and Alaistair Brandah Norman on behalf of Najib.
A Mareva injunction is an order preventing someone from disposing of property pending the outcome or completion of a legal action.
The injunction also limits Najib from withdrawing no more than RM100,000 per month for living and legal expenses, and if more is required, he would need to get written permission from the lawyers of 1MDB and Global Diversified.
The order also states that Najib must make written disclosure to 1MDB and Global Diversified regarding his assets valued up to US$681 million, whether domestic or overseas, under his own name or otherwise and whether owned solely or jointly with other defendants.
The plaintiffs in the suit are 1MDB, 1MDB Energy Holdings Limited, 1MDB Energy Limited, 1MDB Energy (Langat) Limited and Global Diversified, while Najib, Terrence Geh Choh Heng (former finance director of 1MDB), Jasmine Loo Ai Swan (former 1MDB counsel), Casey Tang Keng Chee (former executive director of 1MDB), Vincent Beng, Radhi Mohamad (former chief financial officer and subsequently chief operating officer) were named as defendants.
Also named as defendants were Kelvin Tan Kay Jim (former investment director) and Nik Faisal Ariff Kamil (former chief executive officer of SRC International Sdn Bhd).
The US$8 billion suit is one of 22 civil suits filed to claim over US$23 billion on behalf of 1MDB and its former subsidiary SRC International, from several individuals allegedly involved in the financial scandal. - BERNAMA