PUTRAJAYA: The Court of Appeal has set Oct 15 for the hearing of former Prime Minister Datuk Seri Najib Razak’s appeal to lift a Mareva injunction which prevented him from disposing of or reducing the value of any of his assets in Malaysia amounting to US$681 million.
Siva Kumar Kanagasabai, counsel representing 1Malaysia Development Berhad (1MDB) and its four subsidiaries — 1MDB Energy Holdings Limited, 1MDB Energy Limited, 1MDB Energy (Langat) Limited and Global Diversified Investment Company Limited confirmed the date when contacted by Bernama.
In May 2021, 1MDB and the four subsidiaries filed a lawsuit against Najib and several other individuals, including, Terrence Geh Choh Heng (former 1MDB finance director), Jasmine Loo Ai Swan (former 1MDB counsel), Casey Tang Keng Chee (former 1MDB executive director), Vincent Beng, Radhi Mohamad (former chief financial officer and later chief operating officer).
On Feb 8, 2022, the High Court granted an ex-parte Mareva injunction against Najib.
On Sept 27, last year, the High Court upheld the injunction following an interpartes hearing. Najib appealed this decision to the Court of Appeal.
The injunction, obtained by the companies was intended to freeze Najib’s assets before the determination of the civil suit.
The injunction also limits Najib to withdrawing no more than RM100,000 per month for living and legal expenses.
Should he require more funds, he must obtain written permission from the lawyers representing 1MDB and its subsidiaries.
A Mareva injunction is an order that prevents someone from disposing of property pending the outcome or completion of a legal action.
Najib, 71, who is currently serving a prison sentence, was unsuccessful in his attempt to attend the appeal hearing. His application to be present at the proceedings were rejected by both the High Court and Court of Appeal. Federal Court also dismissed his application for leave to appeal on May 29, this year
