KUALA LUMPUR – Ex-minister Datuk Mohd Zaid Ibrahim and his former law firm Zaid Ibrahim & Co (Zico) have settled their legal tussle out of court.
In a joint statement today, the lawyers involved in the case said they were instructed to withdraw all proceedings.
“In the matter of the legal proceedings between Datuk Mohd Zaid Ibrahim and Zaid Ibrahim & Co, we wish to announce that the parties have resolved all matters to their mutual satisfaction.
“The solicitors have been instructed to withdraw all legal proceedings.
“We are pleased to put this behind us, and wish each other the best moving forward.”
On November 18, Zaid filed a writ of summons against the firm, seeking an injunction to stop it from using his name.
He told the court that he “acquired substantial goodwill in obtaining empanelment with financial institutions and government-linked companies”.
In 2008, Zaid left his practice to join the government, holding the law portfolio.
Planning to return to practice in 2018, he requested that Zico refrain from using his name, which would allow him to start a new legal firm with his name.
Zico partners Chew Seng Kok and Datuk Seri Nik Norzrul Thani Nik Hassan Thani then invited him to return as chairman and existing equity partner.
Zaid alleged that he was terminated from his position in the firm last November.
In its statement of defence, Zico said the name of the firm belongs to the practice itself.
It also said Zaid sold his remaining equities to Chew and Nik Norzrul Thani for RM25.65 million in 2008. –The Vibes, September 30, 2021
