1MDB obtained injunction to freeze Jho Low’s assets in Malaysia

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The injunction limits Low and his father from spending no more than RM20,000 a month each for living and legal expenses.

1Malaysia Development Berhad (1MDB) and one of its subsidiaries have obtained a Mareva injunction from the High Court in Kuala Lumpur to prevent wanted businessman Low Taek Jho from transferring or dissipating of any of his assets in Malaysia amounting to US$1.03 billion (RM4.32 billion).

Low’s father, Larry, was also served with a similar injunction to freeze US$401 million.

The decision was made by Judge Hayatul Akmal Abdul Aziz on 15 March after allowing the ex-parte application by 1MDB and Global Diversified Investment Company Limited (formerly known as 1MDB Global Investments Limited), which were the first and fifth plaintiffs in 1MDB’s civil suit against father, son and others.

A Mareva injunction is a temporary order that prevents the defendant from disposing assets until the determination of the case against him.

The injunction also limits Low and his father from spending no more than RM20,000 a month each for living and legal expenses.

The order also states that Low and his father must make written disclosures to 1MDB and Global Diversified regarding their assets, whether locally or abroad, under their own name or otherwise, and whether under sole or joint possession.

The order is in effect until the court hears an inter-parte injunction application on March 29.

A lawyer from Messrs Skrine, representing 1MDB, confirmed the court’s decision.

On May 7, 2021, 1MDB and its four subsidiaries – Global Diversified, 1MDB Energy Holdings Limited, 1MDB Energy Limited and 1MDB Energy (Langat) Limited – filed a US$3.8 billion suit against Low; his father; his mother Goh Gaik Ewe; sister May Lin; younger brother Taek Szen and associate Eric Tan.