K Kirubakaran, who appeared for NFC and 10 other defendants, including its chairman Salleh Ismail, said the 30-day period prescribed by law for filing a notice of appeal expired on Nov 12.
Kirubakaran said neither the government nor NFC have filed and served any notice seeking to appeal the ruling.
“NFC and its defendants have not filed and served a copy of the notice of appeal to the government,” he told FMT.
A check with the Attorney-General’s Chambers also confirmed that no notice has been filed by the government.
“As such, the High Court verdict remains,” Kirubakaran said.
On Oct 13, Justice Anand Ponnudurai ordered that NFC refund RM33.7 million to Putrajaya, being the unutilised portion of a RM250 million loan extended previously by the government to the company.
Anand also ruled that the government was entitled to recover an additional RM86.9 million seized from the defendants and currently held by the Accountant-General in escrow.
In addition, he ordered land in Gemas and a property in Bangsar to be transferred to the government as beneficial owner.
However, Anand dismissed the remainder of the government’s claim against the defendants, including its chairman Salleh and his three children, for breach of fiduciary duties, cheating and misappropriation of funds.
The judge also said it was not unlawful for NFC to utilise a portion of the loan sum to invest in properties in the name of the company, holding that it did not amount to a breach of contract or embezzlement of monies.
The High Court instead ruled against the government in NFC’s counterclaim, holding that project targets were not met as the government had breached its obligation under an implementation agreement by failing to construct an “export quality abattoir”.
Anand also found that it was the government which had breached the loan agreement by unlawfully terminating it. However, the judge only awarded nominal damages of RM10,000 to the defendants.
He went on to terminate the failed NFC project which was designed to help Malaysia become self-sufficient in beef production.
The loan was advanced by the government to NFC in 2007 in a bid to turn the local cattle industry into a large-scale business. NFC was obliged to make annual repayments of RM17 million from 2012 to 2028.
The government filed the suit in 2019 and had also named six companies owned by the family as defendants.