KUALA LUMPUR (Sept 17): Solicitors representing the Malaysian Anti Corruption Commission (MACC) is currently looking into reports that the United States Department of Justice is seeking some US$300 million additional assets allegedly from 1Malaysia Development Bhd (1MDB), a sum that the MACC is also seeking to recover from several parties via a forfeiture application.
KUALA LUMPUR (Sept 15): PetroSaudi Oil Services (Venezuela) Ltd (PSOSL) (Incorporated in Barbados) reiterated its undertaking to the High Court today that it would not move the disputed US$340.
UK authority having problems to register Malaysian court order over PSI’s US$340m link to 1MDB funds
KUALA LUMPUR (Aug 28): The High Court was today told that there was difficulty to register the court’s interim order to restrain any dealings of monies amounting to US$340,258,246.
Hearing of PSOSL’s bid to vary interim order blocking movement of 1MDB-linked funds adjourned to Aug 19
KUALA LUMPUR (Aug 12): The High Court has adjourned to Aug 19 the hearing of PetroSaudi Oil Services (Venezuela) Ltd (Incorporated in Barbados) (PSOSL)’s application to vary an interim order granted last month that blocked the movement of US4340.
KUALA LUMPUR (July 29): PetroSaudi International Ltd (PSI) and its director, Tarek Obaid, are seeking to amend an interim order obtained by the government to prohibit them from moving over US$340 million that is linked to 1Malaysia Development Bhd (1MDB) and kept in a client’s account at a United Kingdom’s law firm, to other entities.
MACC lawyer: Forfeiture action against PetroSaudi, Tarek a result of Special Task Force probe on 1MDB
KUALA LUMPUR (July 13): A lawyer representing the Malaysian Anti-Corruption Commission (MACC) said today that the forfeiture action filed by the public prosecutor against PetroSaudi International Ltd and its chief executive officer Tarek Obaid was borne from the investigations done by the Special Task Force on 1Malaysia Development Bhd (1MDB).
1MDB asset forfeiture: High Court issues temporary order to stop fund movement from Tarek Obaid, four others
KUALA LUMPUR (July 16): The High Court here had today issued an ad-interim (temporary) order barring Tarek Obaid, PetroSaudi Oil Services (Venezuela) Ltd and three others from moving US$340.
KUALA LUMPUR (July 14): The High Court today allowed an ex-parte application by public prosecutors to be heard on Thursday in a bid to obtain a prohibition order against PetroSaudi International Ltd and Tarek Obaid from using over US$340 million (RM1.
Forfeiture action against PetroSaudi and Tarek Obaid amounting to US$340m to go up for case management today
KUALA LUMPUR (July 14): The prosecution had on Friday filed a notice of motion for forfeiture action against Tareq Obaid, PetroSaudi International Ltd, PetroSaudi Oil Services (Venezuela) Ltd, Clyde and Co LLP and Temple Fiduciary Services Ltd.
KUALA LUMPUR (June 30): Former 1Malaysia Development Bhd (1MDB) chief executive officer Datuk Shahrol Azral Ibrahim Halmi (pictured) agreed that certain documents involving the restructuring exercises to repatriate 1MDB's US$2.