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Friday, January 13, 2012

Kayveas and his wife to face bankruptcy

KUALA LUMPUR, Jan 13: Segambut MP from DAP, Lim Lip Eng yesterday disclosed that the People's Progressive Party (PPP) president Datuk Seri M Kayveas is facing the possibility of bankruptcy. 


He said Kayveas and his wife, Datin Seri Blanche O 'Leary was sued by a contractor, Concord Peninsular Sdn Bhd in 1997 for failing to pay damages worth RM470, 000 to the company.


"On February 1, 1997 Peninsular Concord had paid RM470, 000 to Kayveas and his wife as 'stakeholders' to a project. "But the project was abandoned and  Peninsular had asked for their money to be returned but Kayveas had refused to pay back," he said at a news conference at Parliament Segambut community service office today. 


On July 28 last year, the Court had held that Kayveas must repay the money together with interest and there was no court order saying the case was postponed. 


Although Kayveas and his wife had filed an appeal in the Court of Appeal, but the case remained in the trial. "Kayveas have to pay back even if he has filed an appeal. 


"Peninsular Concord bankruptcy notice was filed against Kayveas," he said. 


Yesterday, Kayveas, who was also former Deputy Minister in the Prime Minister's Department confirm that his name is not listed a potential PPP candidates for general election-13. Explaining this, as reported in the media, Kayveas said he would leave the decision whether to contest or not to the Prime Minister, Datuk Seri Najib Razak, who is also chairman of the Barisan Nasional. 


PPP has submitted the suitable names to contest in the four parliamentary and 12 state constituencies to Najib. 


At the last general elections, the PPP was allocated two seats in Perak, one being the Taiping parliamentary constituency and the other being Pasir Bedamar State Assembly seat. 


In Taiping, Kayveas lost to DAP's Nga Kor Ming by 11.298 votes while DUN Pasir Bedamar seat, PPP candidate Lee Heng lost to Seah Leong Peng of the DAP by 7.914 votes. 


source : Harakahdaily

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