KUALA LUMPUR – The high court today affirmed its decision to freeze former prime minister Datuk Seri Najib Razak’s assets and limit his monthly withdrawals to a maximum of RM100,000.
Judge Atan Mustaffa Yussof Ahmad dismissed Najib’s application to set aside the Mareva injunction on assets worth US$681 million linked to 1Malaysia Development Bhd (1MDB) and one of its subsidiaries.
The judge ruled that the injunction should be retained until the end of 1MDB’s suit.
A Mareva injunction is an order stopping a party from disposing of any property while waiting for the resolution of legal action.
1MDB obtained the injunction last year barring Najib or his agents from taking any steps to dispose of his assets before the determination of the civil suit.
On February 8 last year, the court allowed the ex-parte application for a Mareva injunction by 1MDB and Global Diversified Investment Company Limited, which was formerly known as 1MDB Global Investments Limited. – The Vibes, September 27, 2023
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