January 2025 hearing for SRC suit to recover RM42mil from Najib

January 2025 hearing for SRC suit to recover RM42mil from Najib

SRC International and its subsidiary, Gandingan Mentari, are suing former prime minister Najib Razak for criminal breach of trust and abuse of power.

Last year, SRC International obtained a Mareva injunction to prevent Najib Razak from dissipating his assets of up to RM42 million pending disposal of the lawsuit.
KUALA LUMPUR:
SRC International Sdn Bhd’s RM42 million civil suit filed against former prime minister Najib Razak two years ago will only go to trial in 2025.

Lawyer Kwan Will Sen said the trial is scheduled to be heard by judicial commissioner Mohzanuddin Shah Raja Mohzan between Jan 13 and 24, and Feb 12 and 26, 2025.

“The parties met the trial judge in an online proceeding to obtain pre-trial directions,” said Kwan, who represented SRC and its subsidiary, Gandingan Mentari Sdn Bhd.

He said another case management will be held on Aug 4.

This suit is one of 22 civil actions started by SRC International and its parent company, 1MDB, in 2021 against individuals who allegedly defrauded the two government-owned entities.

Both 1MDB and SRC are seeking a total of US$23 billion (RM94.43 billion) in damages.

SRC International and Gandingan Mentari filed the suit against Najib claiming he had committed criminal breach of trust, misused his power, misappropriated SRC International funds and benefitted personally from it.

He is currently serving a 12-year jail sentence after the Federal Court affirmed his conviction in the SRC International case on abuse of power, CBT and money laundering charges.

As part of its civil action against Najib, SRC International last year obtained a Mareva injunction from the High Court to prevent him from dissipating assets up to RM42 million pending disposal of the lawsuit.

Last December, the Court of Appeal dismissed Najib’s appeal from the injunction order, and the Federal Court is scheduled to hear the former prime minister’s leave application next month.

Under the terms of the injunction, Najib is not allowed to remove, dispose, deal with or diminish his assets in and outside of Malaysia up to the value of RM42 million, pending final determination of the suit.

He can also only withdraw up to RM100,000 a month from his bank account to cover living expenses and payment of legal fees.

Stay current - Follow FMT on WhatsApp, Google news and Telegram

Subscribe to our newsletter and get news delivered to your mailbox.