Kuala Lumpur: The Federal Court has dismissed Najib Razak’s bid to set aside a Mareva injunction that restrains him from transferring or dissipating RM42 million worth of his assets in view of SRC International Sdn Bhd’s lawsuit against him.
A Mareva injunction is a temporary order which restrains a defendant from disposing of assets pending the disposal of a civil suit.
Justice Nallini Pathmanathan, who headed a three-member bench, said today that Najib had failed to satisfy the legal requirements that warrant the apex court to hear his appeal to set aside the Mareva injunction against him.
The other judges who sat with her were Justices Nordin Hassan and Abu Bakar Jais.
The court also ordered Najib to pay costs of RM30,000.
Najib was represented by lawyer Shafee Abdullah, while Lim Chee Wee appeared for SRC International.
SRC International and its subsidiary company, Gandingan Mentari Sdn Bhd, filed the suit against Najib last year, claiming that he had committed breach of trust, misused his power, benefitted personally from SRC International funds and misappropriated the funds.
They obtained the Mareva injunction before the High Court in 2022. The Court of Appeal also affirmed the injunction order.
Under the injunction’s terms, Najib must not remove, dispose, deal with or diminish his assets in and outside of Malaysia up to the value of RM42 million, pending the final determination of the suit.
However, he may withdraw up to RM100,000 a month from his bank account for his living expenses and payment of legal fees.
The former prime minister is currently serving his 12-year jail sentence after the Federal Court affirmed his conviction on charges of abuse of power, criminal breach of trust and money laundering in connection with the SRC International case.
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