1MDB drops Lodin, Ismee, Shahrol and Hazem as defendants in US$8b civil suit

1MDB drops Lodin, Ismee, Shahrol and Hazem as defendants in US$8b civil suit
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KUALA LUMPUR (Aug 16): 1Malaysia Development Bhd (1MDB) and its four subsidiaries have dropped seven of the 15 defendants in their US$8 billion lawsuit against former office bearers of these companies.

Those dropped from the suit are 1MDB’s former directors Tan Sri Che Lodin Wok Kamaruddin, Tan Sri Ismee Ismail, Tan Sri Ong Gim Huat and Ashvin Jethanand Valiram, its former CEOs Datuk Shahrol Azral Ibrahim Halmi and Mohd Hazem Abdul Rahman, and former chief financial officer Azmi Tahir.

The suit was filed last May by 1MDB, along with 1MDB Energy (Langat) Ltd, Global Diversified Investment Company Ltd (formerly 1MDB Global Investments Ltd), 1MDB Energy Holdings Ltd and 1MDB Energy Ltd.

The remaining defendants included former prime minister Datuk Seri Najib Razak, as well as Terence Geh Choh Heng, Jasmine Loo Ai Swan, Casey Tang Keng Chee, Vincent Beng Huat Koh, Radhi Mohamad, Kelvin Tan Kay Jin and Nik Faisal Ariff Kamil.

They are accused of committing fraudulent misrepresentation, fraudulent breach of duties, fraudulent breach of trust, breach of statutory and contractual duties, conspiracy, negligence, knowing receipt, dishonest assistance, fraudulent misappropriation and unjust enrichment.

Ismee had testified against Najib in the SRC International Sdn Bhd criminal trial while Shahrol Azral and Hazem have testified in the 1MDB-Tanore trial

The removal of seven of the original 15 defendants was contained in the amended writ filed on July 12. A file search by The Edge confirmed this.

Case management of the suit took place at the High Court (commercial division) before Judicial Commissioner Atan Mustaffa Yussof Ahmad today.

It is understood that the amended writ was served to Radhi, Beng and Tan, while 1MDB and its subsidiaries are trying to serve the rest to Geh, Loo and Tang.

The court has instructed Radhi, Beng and Tan to file their defence by Sept 17.

The court also fixed Sept 20 as the next case management date.

The 1MDB suit is part of multiple suits filed by the Ministry of Finance Inc-owned company last May. 

All in all, a total of 22 suits were filed by 1MDB and its former subsidiary SRC.

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S Kanagaraju