1MDB, subsidiaries get leave to continue US$2.79b lawsuit against Jho Low’s associate

KUALA LUMPUR, June 7 — 1Malaysia Development Berhad (1MDB) and its four subsidiaries today obtained permission from the High Court here to proceed with a US$2.795 billion (RM13...

KUALA LUMPUR, June 7 — 1Malaysia Development Berhad and its four subsidiaries today obtained permission from the High Court here to proceed with a US$2.795 billion lawsuit against an associate of fugitive businessman Low Taek Jho or Jho Low, namely Eric Tan Kim Loong, who was declared bankrupt.

“When a person is declared bankrupt, then court action cannot be continued except with the permission of the court and permission was obtained today by my client,” he said when contacted. Mohd Hisyamuddin Awang Abu Bakar, as a director of 1MDB through his supporting affidavit filed with the application, claimed that between October 1, 2009, and November 7, 2014, Tan dishonestly received funds amounting to US$2.795 billion without any legitimate commercial purpose.

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