New judge to hear 1MDB suit against Deutsche Bank, six other parties

KUALA LUMPUR: The suit filed by 1Malaysia Development Berhad (1MDB) against seven parties, including two foreign banks will be heard by a new judge.

The matter was announced by a lawyer from Messrs Rosli Dahlan Saravana Partnership when contacted by reporters today after case management of the suit, conducted online before High Court Judicial Commissioner (JC) Quay Chew Soon.

Based on the notice issued by the Chief Judge of Malaya, JC Quay has been transferred to the Penang High Court.

"Further case management has been fixed for Feb 8, 2022," the lawyer said.

On May 7, 1MDB as plaintiff filed a US$1.83bil suit against seven defendants for alleged breach of contract, negligence and criminal conspiracy relating to the embezzlement of 1MDB funds.

1MDB named Deutsche Bank (Malaysia) Bhd, Coutts & Co Ltd, J.P. Morgan (Switzerland) Ltd; two Petrosaudi companies, Petrosaudi International Limited and Petrosaudi Holdings (Cayman) Limited as well as two individuals, Saudi Arabian national, Tarik Isam Ahmed Obaid (Tarik Obaid) and British national, Patrick Andrew Marc Mahony (Patrick Mahony) as defendants in the suit.

The plaintiff claimed that all defendants had among other things, conspired to defraud and cause losses and damages to 1MDB and affect its reputation and good standing. - Bernama

Article type: free
User access status:
Join our Telegram channel to get our Evening Alerts and breaking news highlights

court , 1MDB , suit , transfer , judge


Next In Nation

Traders should not hike prices arbitrarily, says Rosol
Zahid's corruption trial: Police close High Court gates, keep supporters out
Zahid's supporters seen outside KL High Court ahead of decision on Monday (Jan 24)
Marina: Dr M interacted with family
PM: Guideline on teachers in politics to be drawn up
The King undergoing knee and ankle treatment
Batu Ferringhi beach erosion worsens, work underway to stabilise shore
EC officially informed of state assembly dissolution
Newly formed PBM mulls entering Johor polls
Hasni: I acted in accordance with the law

Others Also Read