1MDB allowed to serve writ on overseas parties in RM7.3bil suit

[superadmin]

KUALA LUMPUR: The High Court today granted 1Malaysia Development Berhad (1MDB) permission to serve its writ of summons on Coutts & Co Ltd, J.P. Morgan (Switzerland) Ltd, Petrosaudi International Limited and Petrosaudi Holdings (Cayman) Limited for negligence, breach of contract and criminal conspiracy to defraud 1MDB.

1MDB has also been allowed to serve its writ on two individuals, Tarek Essam Ahmed Obaid (Tarek Obaid) of Saudi Arabia and British citizen Patrick Andrew Marc Mahony (Patrick Mahony).

The six parties are the second to seventh defendants in a suit filed by 1MDB worth US$1.83 billion (RM7.3bil). The first defendant Deutsche Bank (Malaysia) Bhd has been served with the writ of summons.

Judicial Commissioner Quay Chew Soon allowed 1MDB’s application for leave to serve the writ out of jurisdiction against the six.


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