Sources familiar with the on-going cases where several GLCs, namely MAS, Telekom Malaysia and Prokhas, which manage the residual assets of Pengurusan Danaharta Sdn Bhd, a party that filed one of the suits against Tajudin confirmed they have yet to receive any offer.
Questions should also be posed, since there has been no proposal from Tajudin as yet, on why the GLCs concerned have been asked to work towards a settlement.
The former MAS top gun has until Sept 29 to discuss with the concerned parties on working out to a settlement, said the source.
"It will be incumbent on Tajudin's (left) part to propose how. He has six weeks to show us his proposal (in reaching) for a settlement."Six weeks is quite some time albeit this is a busy month with fasting and Hari Raya around the corner.
"I believe it can be done if the parties are up to it. I do not expect one meeting to be sufficient to discuss a settlement with various parties that filed the legal action.
"We expect there will be a series of meetings but the proposal (from Tajudin) must come," said the source, speaking to Malaysiakini on condition of anonymity.
It added the parties are armed with a High Court judgment requiring Tajudin to pay the RM589 million it owed to Danaharta and two of its subsidiaries.
This is the result of the Kuala Lumpur High Court December 2009 order that the once high-flying corporate player pay that amount while dismissing his counter-claim of RM13.46 billion.
Then judicial commissioner Anantham Kasinater found that Tajudin had originally owed Danaharta a total of RM1.4 billion, and that the one-time Celcom and Technology Research Industries Bhd (TRI) chairperson had failed to settle the reduced debt in four installments spread over three years.
Danaharta had pursued the case but the protege of former Finace Minister Daim Zainuddin, (right) had failed to settle his dues.
The two parties subsequently reached a settlement on Oct 8, 2001 that included a RM468.18 million "hair cut".
Despite the "hair cut", Tajudin still owes an outstanding RM589 million to this day.
Danaharta not negligent selling TRI
Justice Anantham, promoted as a Court of Appeal judge on Wednesday, had in the 2009 judgment ruled Danaharta was not negligent in disposing of the pledged securities which included TRI and Naluri Bhd, but had instead acted in a professional manner.
"The sale proceeds of RM717.39 million in respect of the TRI shares were far in excess of the defendant's (Tajudin) valuation. The sale proceeds derived from the sale of the Naluri shares were marginally lower only than the valuation of the defendant. The difference is too minimal to attribute any negligence to the plaintiffs," he said.
Despite the judgment and not granting a stay order, Tajudin has managed to keep his appeal against the judgment and dismissal of the RM13.6 billion counter-claim pending at the Court of Appeal.
Tajudin took a loan of RM1.79 billion from various banks, when he was with Celcom and TRI, to acquire a 32 percent stake in the national airlines, MAS.
He purportedly defaulted on the loans, which became non-performing after he failed to service them between 1994 and 1998.
His debts were subsequently taken over by Danaharta.
In his counter-claim, Tajudin had in his statement said that his purchase of the stake in the national carrier for RM1.8 billion was not the normal commercial deal as made out to be at the time, but a form of forced "national service".
Tajudin claimed that he was directed by former premier Dr Mahathir Mohamad and Daim, in 1994, to take a controlling stake in MAS to bail out the government.
On Thursday, Minister in the Prime Minister's Department Nazri Abdul Aziz told Malaysiakini that it was Tajudin who had approached the government with a view of a settlement.
Controversial Nazri letter
With that in mind, Nazri wrote the letter dated Aug 8, and informed the GLCs that the Finance Ministry had agreed to settle all outstanding civil suits against Tajudin.
"This is to inform you that the government of Malaysia and the Finance Ministry have agreed to settle all civil claims against Tan Sri Dato Tajudin Ramli and others to be withdrawn immediately in view of the fact that the government and the Finance Ministry have agreed that the said cases will be settled out of court.
"For your information, the government has given me the mandate to act for the government in this matter," Nazri had written.
However, Nazri had since clarified that the so-called "directive" was mere advice to the GLCs.
Several quarters including opposition leader Anwar Ibrahim and Tony Pua had hit out at Nazri for the letter.
Anwar said such a directive should have come from the Finance Ministry and not Nazri when GLCs are not part of his portfolio.
Pua suggested that Nazri to be investigated for abuse of power and corruption under the same law which had jailed Anwar.
Danaharta not written off debts
The source added that in all of 13 to 14 years' of Danaharta's existence, it had never written off any debts.
"You can come to us (Danaharta) and negotiate or ask for discounts but you still have to pay up. Never in its existence of 13 to 14 years have we written off any debts.
"We have six weeks to discuss from now until Sept 29 and that date has been fixed for case management. Of course, if parties do not agree or a settlement have yet to be proposed the dates can be extended further. But the proposal must come from Tajudin," said the source.
The source added that that the cases had taken such a long time was no fault of the parties filing the suit but Tajudin's counsel asking for adjournments.
Malaysiakini had reported in the past that Tajudin's appeal had beenpostponed twice upon the application of his lawyers.
His appeal on the suggestion of the global settlement was postponed in October last year and again in January.
The source confirmed since the action was initiated six years ago "Tajudin has not even paid 10 sen."
Federal Court judge Md Raus Sharif, who is the managing judge for the commercial division will oversee the case on Sept 29. - Malaysiakini
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