New JC to hear bid by Irwan, Arul Kanda to strike out 1MDB suit

New JC to hear bid by Irwan, Arul Kanda to strike out 1MDB suit

Roz Mawar Rozain replaces judge Amarjeet Singh, who will go on transfer.

1MDB filed the suit against Irwan Serigar Abdullah and Arul Kanda Kandasamy (right), alleging that they had committed breach of trust and conspiracy against the sovereign wealth fund.
KUALA LUMPUR:
The applications by former Treasury secretary-general Irwan Serigar Abdullah and former 1MDB chief executive officer Arul Kanda Kandasamy to strike out a US$6.59 billion (RM29.4 billion) suit filed by 1MDB against them will be heard by a new High Court judicial commissioner here.

Irwan’s lawyer, Lavinia Kumaraendran, told the media this after an online case management today before senior assistant registrar Azlinda Ahmad Sharif.

She said the application will be heard before judicial commissioner Roz Mawar Rozain, who is replacing judge Amarjeet Singh. The latter will be transferred to the appellate and special powers division of the Kuala Lumpur High Court.

“The date for hearing the application, Oct 19, which was set previously, is maintained and further case management is set for Sept 27,” she said.

Arul Kanda filed his application to strike out the suit last June and the application by Irwan was filed on Feb 18 this year.

In his application, Irwan alleged, among others, that the suit against him was premature as the investment of Brazen Sky Ltd and the payment of Aabar Investments PJS Ltd were not clearly unsustainable because the court had yet to determine 1MDB suffered losses of US$1.83 billion (RM8.17 billion) and US$3.5 billion (RM15.6 billion).

1MDB filed the suit against Arul Kanda and Irwan in May last year, alleging that they 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 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 International Petroleum Investment Company (Ipic) on May 9, 2017.

It claimed that Irwan also conspired with Arul Kanda to cause the company to implement the employment extension agreement and made 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 damages.

1MDB demanded 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.

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