Wednesday, December 8, 2021

Najib’s bid to stay US$8 billion suit by 1MDB to be heard next year

The court has also granted 1MDB's application to serve papers on several others linked to the case by way of substituted service.

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Najib Razak’s application for a stay of proceedings in the US$8 billion civil suit filed by 1MDB against him and several others will be heard on Feb 11 next year.

1MDB’s lawyer Siva Kumar Kanagasabai said the former prime minister applied for a stay of proceedings at the Kuala Lumpur High Court yesterday.

He said this to Bernama after the online case management before judicial commissioner Atan Mustaffa Yussof Ahmad

In today’s proceedings, the court also granted 1MDB’s application to serve papers on Terrence Geh Choh Heng (former finance director of 1MDB), Jasmine Loo Ai Swan (former general counsel of 1MDB), Casey Tang Keng Chee (1MDB’s former executive director) and Nik Faisal Ariff Kamil (former CEO of SRC International Sdn Bhd) by way of substituted service in the US$8 billion suit.

Substituted service is a court-sanctioned alternative way of service after attempts at personal service are unsuccessful.

The counsel said 1MDB’s former director of investments and chief investment officer Vincent Beng Huat Koh had also filed his statement of defence and informed the court that he would file an application for striking out the suit.

“He was given three weeks to do so. 1MDB has one month to file a reply to his defence,” he said, adding that the court had set Dec 1 for further case management.

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 against several individuals allegedly involved in the financial scandal.

Named as defendants in this suit are Najib, Terence Geh, Jasmine Loo, Casey Tang, Vincent Beng, and subsequently chief operating officer Radhi Mohamad, former director of investments Kelvin Tan Kay Jim and Nik Faisal.

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