Judge Ahmad Fairuz Zainol Abidin fixed the date after hearing submissions today by the former prime minister’s counsel Harvinderjit Singh, and DP Naban, who appeared for SRC, a former subsidiary of sovereign wealth fund 1MDB.
The suit is in relation to an alleged breach of trust and breach of statutory duty involving the RM4 billion Retirement Fund Incorporated (KWAP) loan to SRC.
During proceedings, Harvinderjit submitted that his client wanted a stay of the suit until the full disposal of the criminal cases involving RM42 million in SRC funds, which was in the final stage at the Federal Court, as well as three money-laundering charges involving RM27 million of the company’s funds at the High Court here.
He said the stay of these proceedings pending final resolution ought to be allowed to avoid conflicting decisions where questions or issues were in substance similar, as well as to prevent interference with pending criminal proceedings.
“(It is) also to prevent injustice to criminal proceedings – where proceeding with defence in a civil suit and disclosing defence may affect the right against self-incrimination, right of silence, interfere with witnesses, and enable the prosecution to enlarge the case,” he said.
Naban, in objecting to the matter, said that based on his research, there were no cases reported where pending appeal criminal cases resulted in a stay of the civil proceedings.
“As my learned friend pointed out, he (Najib) has given evidence, he is now in the apex court (appeal) and wants to bring more evidence, so the right of silence would not be affected. Thus, this application should be dismissed with cost,” he said.
On May 7 last year, SRC under its new management, filed legal action against Najib and its former directors Suboh Md Yassin, Azhar Osman Khairuddin, Nik Faisal Ariff Kamil, Che Abdullah @ Rashidi Che Omar, Shahrol Azral Ibrahim Halmi and Ismee Ismail.
However, later, it removed six names from the suit and retained only Najib as defendant.
SRC as a plaintiff, in the writ of summons, alleged that Najib had abused his power and obtained personal benefits from SRC funds as well as misappropriated the funds. Najib was SRC’s emeritus adviser from May 1, 2012 to March 4, 2019.
SRC, which is now wholly owned by the Ministry of Finance Incorporated (MoF Inc), is seeking general damages, exemplary, additional and interest, costs and other appropriate relief provided by the court.
On Dec 7 last year, the Court of Appeal upheld the conviction and 12-year jail term and RM210 million fine on Najib for misappropriating RM42 million in SRC funds after dismissing his appeal against the High Court’s decision on July 28, 2020.
On the same day, Najib filed a notice of appeal to the Federal Court.