KUALA LUMPUR (July 2): 1Malaysia Development Bhd and its four subsidiaries were given an extension of time by the High Court here today to serve writs of their US$8 billion suit to 15 defendants, including former prime minister Datuk Seri Najib Razak.
This follows case management of the matter as the case was called up by Judicial Commissioner Atan Mustaffa Yussof Ahmad.
Counsel Siva Kumar Kanagasabai told theedgemarkets.com that the court had given an extension of time for the writs to be served.
"It was not served earlier due to the lockdown and extension was given pursuant to the Chief Justice directive. A case management date has been fixed on Aug 16, 2021,” he said.
1MDB along with 1MDB Energy (Langat) Ltd, Global Diversified Investment Company Ltd (formerly 1MDB Global Investments Ltd), 1MDB Energy Holdings Ltd and 1MDB Energy Ltd had named Najib as among the 15 defendants in the suit.
Also named as defendants were 1MDB former directors Tan Sri Che Lodin Wok Kamaruddin, Tan Sri Ismee Ismail, Tan Sri Ong Gim Huat and Ashvin Valiram besides ex-1MDB chief executive officers Datuk Shahrol Azral Ibrahim Halmi and Mohd Hazem Abdul Rahman, and former chief financial officers Azmi Tahir and Radhi Mohamad.
Also named in the lawsuit were former 1MDB officers Terence Geh Choh Heng, Jasmine Loo Ai Swan, Casey Tang Keng Chee, Vincent Beng Huat Koh, Kelvin Tan Kay Jin and Nik Faisal Ariff Kamil.
They are being sued for fraudulent misrepresentation, fraudulent breach of duties, fraudulent breach of trust, breach of statutory and contractual duties, conspiracy, negligence, knowing receipt, dishonest assistance, fraudulent misappropriation and unjust enrichment where the total quantum sought is US$7.795 billion.
Najib is presently on a criminal trial with four counts of abuse of power and 21 counts of money laundering worth RM2.28 billion, while Hazem is currently testifying in the case.
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