1MDB is claiming US$6.59 billion (RM30.1 billion) in damages from nine parties, including Irwan and Arul Kanda. The others are Deutsche Bank, Coutts & Co, J.P. Morgan (Switzerland), Petrosaudi International, Petrosaudi Holdings (Cayman), Tarik Obaid and Patrick Mahony.
Lavinia Kumaraendran, representing Irwan, said this when contacted after the case had been called for case management before judicial commissioner Roz Mawar Rozain.
“Therefore, the case management date is fixed for Sept 27 and the hearing of Irwan and Arul Kanda’s application to cancel the 1MDB suit on Oct 19, has been vacated,” said the lawyer.
The application to quash the suit was supposed to be heard before Roz Mawar who replaced judge Amarjeet Singh following his transfer to the High Court appellate and special powers division.
It is understood that Roz Mawar held the position of deputy director of prosecution and civil enforcement of the Securities Commission (SC) before being appointed JC. The SC was involved in the 1MDB investigation.
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.