KUALA LUMPUR: The High Court here has dismissed former prime minister Datuk Seri Najib Razak’s bid to set aside the Mareva injunction on assets worth USD681mil linked to 1Malaysia Development Berhad (1MDB) and one of its subsidiaries.
A Mareva injunction is an order stopping a party from disposing of any property while waiting for the resolution of legal action.
The injunction also limited Najib to withdrawals of not more than RM100,000 a month for his living expenses and legal fees, and he would have to obtain written permission from 1MDB and Global Diversified counsels if he needed funds in excess of the total. It also stated that Najib would need to file a written disclosure to 1MDB and Global Diversified regarding his assets of up to USD681mil, whether in Malaysia or abroad, in his own name or not and solely or jointly owned by other defendants.
On Feb 8 last year, the court allowed the ex-parte application for a Mareva injunction by 1MDB and Global Diversified Investment Company Limited . Both are the first and second plaintiffs in the 1MDB lawsuit against Najib and several other individuals.
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