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PUTRAJAYA: The Court of Appeal has set Oct 15 to hear Datuk Seri Najib Razak’s appeal to lift a Mareva injunction that prevents him from disposing of or reducing the value of any of his assets in Malaysia amounting to US$681mil (RM2.96bil).
Siva Kumar Kanagasabai, 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 on Wednesday (Aug 28).
In May 2021, 1MDB and the four subsidiaries filed a lawsuit against Najib and several other individuals, including former 1MDB finance director Terrence Geh Choh Heng, former 1MDB counsel Jasmine Loo Ai Swan, former 1MDB executive director Casey Tang Keng Chee, former 1MDB chief investment officer Vincent Beng and former 1MDB chief financial officer and later chief operating officer Radhi Mohamad.
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.
ALSO READ: High Court dismisses Najib's attempt to put aside Mareva injunction
A Mareva injunction is an order that prevents someone from disposing of property pending the outcome or completion of a legal action.
Former prime minister Najib, 71, 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.
The Federal Court also dismissed his application for leave to appeal on May 29. – Bernama
