Umno Withdraws Contempt Proceedings Against CIMB

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Umno today withdrew its application at the High Court for a contempt order against CIMB Bank as it had regained access to its account there.

Its lawyer Tania Scivetti told High Court judge Mohamed Zaini Mazlan that instructions had been given to withdraw the application while the bank’s lawyer Rabindra Nathan said Umno had been given access to its account since last Friday.

Umno sought to initiate contempt proceedings against CIMB last week over claims that the bank had not complied with a ruling on June 19 in which the High Court dismissed the prosecution’s attempt to stay the decision on a forfeiture application.

FMT

The prosecution had sought to recover more than RM192 million which it said were 1MDB funds received in 2013.

The Court of Appeal dismissed its attempt to stay a lower court ruling on the forfeiture application pending the appeal.

CIMB Bank lawyer Rabindra Nathan said Umno had been given access to its account since Friday following a Court of Appeal ruling on the matter.

Umno’s accounts were frozen after the Malaysian Anti-Corruption Commission (MACC) pursued legal action against the party alleging that it had received funds from 1MDB.

The MACC is seeking to recover RM270 million from 41 individuals and organisations in funds allegedly channelled from Najib Razak‘s account.

The anti-graft agency also issued compounds to recover RM420 million worth of alleged 1MDB money channelled to 80 individuals and organisations.