Court replaces judge in Irwan Serigar, Arul Kanda's bid to strike out 1MDB suit

 

The applications by former Treasury secretary-general Mohd Irwan Serigar Abdullah and former 1Malaysia Development Berhad (1MDB) chief executive officer Arul Kanda Kandasamy to strike out a US$6.59 billion (RM29.42 billion) suit filed by 1MDB against them will be heard by a new judicial commissioner at the High Court.

This was informed by Irwan’s (above) lawyer, Lavinia Kumaraendran, when contacted by the media after case management, which was conducted online before senior assistant registrar Azlinda Ahmad Sharif today.

According to the lawyer, the application will be heard before judicial commissioner Roz Mawar Rozain, who is replacing judge Amarjeet Singh who will be transferred to the High Court of Appeal and Special Powers.

“The date for hearing of the application, on Oct 19, which was set previously is maintained, and further case management is set for Sept 27,” she said.

Arul Kanda filed his application to strike out the suit last June, while the application by Irwan was filed last Feb 18.

Arul Kanda Kandasamy

In his application, Irwan, among others, alleged the suit against him was premature as the investment of Brazen Sky Limited and the payment of Aabar Investments PJS Limited were not clearly unsustainable as the court has yet to determine 1MDB suffered losses of US$1.83 billion and US$3.5 billion.

1MDB filed the suit against Arul Kanda and Irwan in May last year, alleging that the two defendants 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 Limited 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 IPIC on May 9, 2017.

1MDB claims 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.

In this regard, 1MDB among others 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 agreement.

- Bernama