Former Malaysia Airlines (MAS) chief Tajudin Ramli and national assets management firm Pengurusan Danaharta Bhd (Danaharta) have resolved their multi-million ringgit suit, bringing a six-year legal battle to an end.
"We are very pleased to inform the court that the parties have ironed out the glitches," Tajudin’s lawyer Lim Kian Leong told the Court of Appeal this afternoon.
Both parties have also agreed to bear their own legal costs, he said.
On Dec 7, 2009, the Kuala Lumpur High Court had ordered Tajudin to pay Danaharta RM589.14 million with 2 percent annual interest above the base lending rate of Malayan Banking Bhd, backdated to Jan 1, 2006.
The quantum was linked to loans taken by Tajudin to buy a majority stake in MAS.
[More to follow]
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