In the discovery action filed last month, Zaid wants his former partners Chew Seng Kok, Nik Norzul Thani Nik Hassan Thani and Singapore-based ZICO Holdings Inc to disclose documents in their possession to enable him to formulate and plead his action in contract, tort or breach of trust.
He said when he left in 2008 to serve the government, he did not take any documents with him.
Zaid, who also named Chew, Nik Norzul and Zaid Ibrahim & Co (ZICO) in the first suit filed in November, is also seeking an injunction to restrain them from using his name and goodwill pending the disposal of the suit.
The three defendants have countered by filing an application to strike out the claim.
In the second suit, Zaid said sometime in 2004, he transferred 38% of equity shares in ZICO to several salaried partners with Chew and Nik Norzul taking a significant portion.
Zaid, the former Kota Baru MP, retained 62% share in the firm.
In 2008, Zaid was appointed minister in the Barisan Nasional government and he sold off another 57% of his shares to Chew and Nik Norzul. Zaid retained beneficial interest in the remaining 5%.
He said sometime in 2008, the defendants launched an exercise to capitalise the brand name ZICO by setting up a separate company in Singapore known as ZICO Holdings Inc.
Chew, who became the majority shareholder in ZICO Holdings, and Nik Norzul were supposed to pay for the 57% shares by an instalment scheme which they did initially.
In 2014, the instalment payment ceased as Chew arranged for the balance of the purchase price by making Zaid the beneficial owner of 10% of the shares in ZICO Holdings.
Zaid said he wanted ZICO back and for Chew and Nik Norzul to account for his shares and interest in the firm including profits.
He also wanted Chew to account to him for the shareholding in ZICO Holdings but said they had failed to do so despite his repeated requests and reminders.
Zaid said late last year Chew and Nik Norzul invited him to be chairman of ZICO and ZICO Holdings so that he would have access to documents.
However, he said he was summarily dismissed from all positions a week later in October.
Chew in an affidavit denied Zaid’s ownership of a 10% stake in ZICO Holdings which Zaid claimed was in exchange of ZICO not continuing its annual payment to relinquish his stake for disposing his 57% share.
He also rejected Zaid’s claims that there were dividends and premiums due to him.
However, Zaid in response said there was an agreement between him and Chew delete on May 27, 2014 which stated he would hold a 10% stake.
In both suits, Suflan TH Liew & Partners are acting for Zaid and Messrs Tommy Thomas is appearing for Chew, Nik Norzul and ZICO.