New judge to hear PetroSaudi forfeiture suit

KUALA LUMPUR: A new High Court judge will be hearing the 1Malaysia Development Bhd (1MDB)-linked forfeiture suit involving US$340.26mil (RM1.42bil), filed by the government against PetroSaudi International (PSI) Ltd and its subsidiary PetroSaudi Oil Services (Venezuela) Ltd (PSOS-VZ).

The matter was supposed to be heard before High Court judge Mohd Nazlan Mohd Ghazali, who was transferred to the High Court’s civil division on March 1.

Deputy Public Prosecutor Budiman Lutfi Mohamed told reporters here yesterday that Justice Ahmad Shahrir Mohd Salleh, who is taking over the case, had fixed Sept 6 and 7 to hear the prohibition application during case management before the new judge.

On July 10 last year, the government filed the main application seeking for a prohibition order to restrain any dealings of the monies amounting to US$340,258,246.87 (RM1,426,192,441.76), said to be linked to 1MDB.

It named PSI director Tarek Obaid, PSI, PSOS-VZ, Clyde & Co LLP and Temple Fiduciary Services Ltd as the first, second, third, fourth and fifth respondents respectively.

The application sought to bar the US$340,258,246.87 deposited in a client’s account at law firm Clyde & Co LLP as well as an unspecified amount of money deposited in an intermediate account name of Temple Fiduciary Services at Barclays Bank.

Both the specified and unspecified monies belonged to PSOS-VZ, which was wholly owned by Tarek through PSI.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

Next In Nation

NGO: Study showed 80% of sexual harassment, bullying cases involved teachers, school authorities
Covid-19: Stricter requirements to enter Sabah from May 20, says Masidi
Health Minister observes preparations in dealing with Covid-19 cases at UiTM Hospital
Decision on Lynas licence extension set for July 28
Covid-19: 19 new clusters identified, seven linked to workplaces
Vaccines must be approved by pharmaceutical regulatory agency before states allowed to purchase it, says KJ
Foreign patrons, workers nabbed at KL gambling den during raid
Health DG urges Malaysians to exercise self-restraint, stay indoors
IGP: Greater scrutiny on interstate, inter-district travel
Ismail Sabri: 503 compounded, 11 arrested for SOP violations on Monday (May 17)

Stories You'll Enjoy