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CRIME & COURTS

Judicial commissioner recuses herself from 1MDB suit against Irwan Serigar, Arul Kanda

22/09/2022 09:52 PM

KUALA LUMPUR, Sept 22 (Bernama) -- A judicial commissioner (JC) recused herself from hearing the 1Malaysia Development Berhad (1MDB) suit against former Treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah and former IMDB chief executive officer Arul Kanda Kandasamy, today.

1MDB is claiming US$6.59 billion from the duo.

Lavinia Kumaraendran, representing Mohd Irwan, when contacted by reporters today said this after the case had been called for case management before Judicial Commissioner Roz Mawar Rozain.

"Therefore, the case management date is fixed for Sept 27 and the hearing of Mohd Irwan and Arul Kanda's application to cancel the 1MDB suit on Oct 19, has been vacated," said the lawyer.

The application to quash the suit was supposed to be heard before JC Roz Mawar who replaces Judge Datuk Amarjeet Singh who has been transferred to the High Court appellate and special powers division here.

It is understood that Roz Mawar, before being appointed as JC, held the position of deputy director of prosecution and civil enforcement of the Securities Commission Malaysia and the SC was one of those involved in the 1MDB investigation.

Arul Kanda and Mohd Irwan were sued by 1MDB in May last year, in connection with their alleged breach of trust and conspiracy resulting in the company to suffer losses amounting to US$1.83 billion in connection with an investment in 1MDB-Petrosaudi Ltd that was converted to an investment in Brazen Sky Limited (Brazen Sky), and then converted into an investment in Bridge Global Fund.

1MDB also claimed that the two defendants committed breach of trust and conspiracy by embezzling US$3.5 billion of 1MDB money paid to Aabar Investments and US$1.265 billion paid to International Petroleum Investment Company (IPIC) on May 9, 2017.

According to 1MDB, Mohd Irwan also conspired with Arul Kanda to cause the company to execute the Employment Agreement Extension and make payments amounting to RM2,905,200 to Arul Kanda in accordance with the agreement, without regard to the interests of 1MDB, thus causing the company to suffer losses.

Therefore, 1MDB among others, demanded that the two defendants pay US$6.59 billion in relation to the breach and an additional RM2.9 million from Mohd Irwan in relation to the Employment Agreement Extension.

-- BERNAMA

 

 

 


 


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