This is what you need to know about 1MDB
KUALA LUMPUR: The law firm representing 1Malaysia Development Bhd has discharged itself from acting for the company over a suit filed by former Umno leader Datuk Seri Khairuddin Abu Hassan.
He is seeking a court order directing Datin Seri Rosmah Mansor to return a US$27.3mil (RM115mil) 22-carat pink diamond necklace set allegedly bought with 1MDB funds.
Lawyer Datuk Tan Hock Chuan informed reporters about the law firm’s move after meeting High Court judge Justice Ahmad Zaidi Ibrahim in chambers.
Legal firm Tan Hock Chuan & Co, he said, had applied to withdraw itself as it could not get instructions from 1MDB.
The court recorded the application at yesterday’s proceedings.
“At the moment, there is no lawyer for 1MDB,” Tan added.
Meanwhile, Khairuddin’s lawyer Damien Chan said the court had postponed the hearing to strike out his client’s suit. The application was made by Rosmah, businessman Low Taek Jho and 1MDB.
Chan said the court fixed June 21 for case management to allow the parties to update the status.
In the statement of claim filed on Aug 16 last year, Khairuddin named Rosmah, Low and 1MDB as the first, second and third defendants respectively.
He claimed that between June 2013 and March 2014, Low, who acted through an agent, purchased jewellery from monies allegedly misappropriated from 1MDB.
He alleged that the jewellery, including one pink diamond, valued at US$23mil (RM96.77mil) and an accompanying necklace valued at US$4.3mil (RM18.08mil), were received as gifts by the first defendant in March 2014.
The plaintiff is seeking an order directing the first defendant to return the jewellery to the third defendant; and an order directing the second defendant to pay the third defendant all the money allegedly misappropriated.
