Zaid in bid to introduce fresh evidence in 1MDB suit against Najib
(FMT) – Former minister Zaid Ibrahim has applied to introduce fresh evidence in his appeal over the striking out of his suit in relation to state investor, 1MDB.
Lawyer Americk Sidhu said the application was filed in the Court of Appeal after the Pakatan Harapan government declassified the Auditor-General’s Report on 1MDB in May.
“We will rely on the report to set aside the striking out of Zaid’s suit,” he told FMT.
The Court of Appeal is expected to hear the application on Aug 8.
However, lawyer Tan Hock Chuan, who represented 1MDB, wanted to discharge himself and the company needed time to engage a new counsel.
“Our application to introduce the fresh evidence may then take a while to be heard,” Americk said.
In January 2016, the 1MDB audit report was submitted to Parliament’s Public Accounts Committee (PAC) but it was classified under the Official Secrets Act.
Last November, the High Court revoked Zaid’s suit against then prime minister Najib Razak for breach of fiduciary duty.
Also named as parties in the suit were his stepson Riza Aziz, 1MDB and the government.
In allowing Najib’s application, High Court Judicial Commissioner Rohani Ismail ruled that the class action suit did not disclose any reasonable cause of action against Najib, Riza, 1MDB and the government.
The court also ruled that Zaid was not a shareholder or agent of 1MDB, and he was not given consent by 1MDB’s board of directors to bring the action against the company.
Zaid had wanted the US$731 million deposited into Najib’s bank accounts to be returned to the government, along with RM42 million received from 1MDB subsidiary SRC International Sdn Bhd.
Besides this, Zaid had also filed a separate application for Ambank Islamic to disclose details of Najib’s accounts.
Zaid’s suit disclosed US$50 million was deposited into Najib’s accounts between February 2011 and November 2012 while US$681 million was deposited in March 2013.
The US$681 million is widely known as the RM2.6 billion donation, based on the exchange rate at that time.
“Najib, as trustee of 1MDB, has a duty to protect and preserve the assets of the state and not convert them for his own use,” Zaid said in his statement of claim.
He said the US$731 million comprised US$681 million deposited into Najib’s personal account in March 2013 before the general election that year, US$20 million that he allegedly received from Good Star Ltd between February and June 2011, as well as US$30 million he allegedly received from Aabar BVI between October and November 2012.
Further, Zaid wants orders directing Riza, a Hollywood movie producer, to repay 1MDB all monies he might have received from it, either directly or indirectly.
He also wants Riza to return all properties, movable or immovable, that he had acquired with money from 1MDB, and held under his name or under his agents’ name, including businessman Low Taek Jho.
