The High Court in Kuala Lumpur has dismissed former prime minister Datuk Seri Najib Razak’s bid to set aside the Mareva injunction on assets worth USD681mil linked to 1Malaysia Development Berhad (1MDB) and one of its subsidiaries.
Read more at https://tinyurl.com/r4phu7ke
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
Read more at https://tinyurl.com/r4phu7ke
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
Category
🗞
NewsTranscript
00:00 The High Court in Kuala Lumpur has dismissed former Prime Minister Dr Srinajeeb Razak's bid to set aside the Marewa injunction on assets worth US$681 million linked to one Malaysia development burkhard 1MDB and one of its subsidiaries.
00:19 High Court Judge Atan Mustafa Yusof Ahmad made the ruling on Wednesday.
00:24 A Marewa injunction is an order stopping a party from disposing of any property while waiting for the resolution of legal action.
00:33 The injunction also limited Najib to withdrawals of not more than RM100,000 a month for his living expenses and legal fees and he would have to obtain return permission from 1MDB and Global Diversified Councils if he needed funds in excess of the total.
00:50 It also stated that Najib would need to file a written disclosure to 1MDB and Global Diversified regarding his assets of up to US$681 million whether in Malaysia or abroad, in his own name or not, and solely or jointly owned by other defendants.
01:09 On February 8 last year, the Court allowed the ex parte application for a Marewa injunction by 1MDB and Global Diversified Investment Company Limited or formerly known as 1MDB Global Investments Limited.
01:24 Both are the first and second plaintiffs in the 1MDB lawsuit against Najib and several other individuals.
01:32 [BLANK_AUDIO]