KUALA LUMPUR – On July 1, the high court will hear the application of former Treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah to strike out the suit filed by 1Malaysia Development Bhd (1MDB) against him and former 1MDB chief executive officer Arul Kanda Kandasamy demanding that they pay up US$6.59 billion (RM28.2 billion).
Counsel Lavinia Kumaraendran, representing Irwan, said the application would be heard before high court judicial commissioner Datuk Amarjeet Singh.
“The hearing date was fixed by senior assistant registrar Azlinda Ahmad Sharif during case management today,” she said when contacted here today.
Irwan as the second defendant filed the application on February 18 claiming, among others, that the suit against him was premature as Brazen Sky Limited’s investment and Aabar Investments PJS Limited’s payment were clearly unsustainable, given the court has yet to determine that 1MDB suffered losses of US$1.83 billion and US$3.5 billion
Irwan also claimed in the application that he did not have any contractual, statutory, or fiduciary obligations to 1MDB because his appointment as a director of 1MDB was after the losses had allegedly been suffered by 1MDB.
According to Irwan, the claim of losses allegedly suffered by 1MDB was an abuse of the court process as 1MDB had obtained money as soon as the settlement was reached in the civil suit with other parties filed by 1MDB.
1MDB, which filed a suit against Arul Kanda and Irwan in May last year, alleged that the two defendants had committed breach of trust and conspiracy causing 1MDB to suffer losses amounting to US$1.83 billion in relation to its investment in 1MDB-Petrosaudi Ltd, which was converted into the alleged Brazen Sky Limited investment said to be found in the Bridge Global Fund.
1MDB also alleged that the two defendants committed breach of trust and conspiracy by misappropriating 1MDB money amounting to US$3.5 billion paid to Aabar Investments and US$1.265 billion paid to Ipic on May 9, 2017.
1MDB claims that Irwan also conspired with Arul Kanda to cause the company to implement an employment extension agreement and make a substantial payment of RM2,905,200 to Arul Kanda in accordance with the agreement, regardless of 1MDB’s interests, causing the company to suffer losses and damage.
1MDB demanded, among others, that the two defendants pay US$6.59 billion for the breach and an additional RM2.9 million from Irwan in relation to the employment extension agreement. – Bernama, April 30, 2022
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