[UPDATED] Najib fails in appeal to reinstate suit against AmBank, Joanna Yu

KUALA LUMPUR – The Court of Appeal today dismissed Datuk Seri Najib Razak’s appeal to reinstate his suit against AMMB Holdings Bhd and two others over alleged mismanagement of his bank accounts.

The three-member bench comprising of justices Datuk Yaacob Md Sam, Datuk Hadhariah Syed Ismail and Datuk Ahmad Zaidi Ibrahim unanimously dismissed the former prime minister’s appeal to restore his suit against AMMB Holdings Bhd, AmBank Islamic Bhd and AmBank former relationship manager Joanna Yu Ging Ping.

Yu was one of the prosecution’s witnesses in the SRC International Sdn Bhd trial where Najib was facing seven charges relating to alleged misappropriation of RM42 million of SRC International funds.

On September 28, 2020, the Kuala Lumpur High Court had struck out Najib’s suit against AmBank, AmBank Islamic and Yu.

It was reported that the Pekan MP filed the suit against AmBank and Yu over the management of bank accounts under his name to divert funds from SRC International.

In his suit against AmBank, AMMB Holdings and Yu, Najib contended in his statement of claim that AmBank and Yu had committed negligence when handling his bank accounts by disclosing them to wanted businessman Low Taek Jho or Jho Low.

The Umno lawmaker claimed that AmBank, AMMB Holdings and Yu had disclosed his bank statements, debit and credit remittance transactions, and balances of funds of one of his accounts to Jho Low as the third party, without authorisation.

Yaacob, who chaired the online proceedings today, ruled that there was no appealable error by the high court, which could warrant appellate intervention.

He agreed with both respondents, Yu and AmBank, that Najib’s suit against them is not to seek damages but is instead a collateral attack on what has transpired in the SRC International case.

“We agree with the learned high court judge that the action brought by Najib against the three was an abuse of the court’s process and made for collateral purposes on his criminal matter in the SRC International proceedings.

“We found no appealable error by the high court in its decision (over Najib’s suit on his bank account) which warrants the appellate court’s intervention.

“We find no merit in this appeal and therefore we dismiss this appeal respectively with costs. The order of the high court is affirmed,” Yaacob said.

After a brief deliberation, the bench then ordered Najib to pay RM35,000 in costs to Yu and RM40,000 to both the Ambank entities.

Representing AmBank and AmBank Islamic were lawyers Yoong Sin Min and Benjamin Dawson, while Datuk Gurdial Singh Nijar represented Yu.

Meanwhile, Najib was represented by his lead counsel Tan Sri Muhammad Shafee Abdullah.

Following the decision, Shafee informed the court that his team will bring the matter to the federal court by filing a leave to appeal application at the federal court. 

On July 28, 2020, Najib was found guilty of seven charges comprising criminal breach of trust, money laundering, and abuse of position involving SRC International funds totalling RM42 billion.

The Kuala Lumpur High Court sentenced him to 12 years’ jail and a fine of RM210 million.

The Court of Appeal had then upheld the high court judge’s decision on December 8 last year. 

Shafee had applied for a stay of execution against the Court of Appeal’s judgment at the Federal Court. – The Vibes, January 27, 2022