KUALA LUMPUR (Nov 27): The High Court has granted further extension of time for SRC International Sdn Bhd and Umno to negotiate a settlement of the RM19.5 million civil suit SRC brought against the political party, but warned that this is the last extension it would allow.
Lawyers on both sides informed High Court judge Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan on Wednesday morning that they were still unable to come to a settlement, but said that they were close to coming to one.
Umno Selangor was also mentioned in the suit.
Raja Ahmad expressed his disappointment that the three parties could not come to a settlement, despite a 10-day adjournment of the trial which was supposed to begin on Nov 18.
“I don’t know what is the correct word — maybe 'disheartened' that a settlement could not be reached. Having said this, I believe the parties can settle [the suit],” he said.
“It’s just a matter of the timing, as I said there are no more free dates for this court.
“At this stage, I will not entertain any request for postponement,” he said.
The next dates set for the case are Jan 20 to 24, 2025, and if no settlement is reached by then, the trial will begin with the first witness on the stand.
However, Raja Ahmad told lawyers that he would not wait until Jan 20 for a settlement update, and set Dec 12 for an update from the parties.
He also advised the counsels to not lose “momentum” in the settlement talks.
In this suit filed in 2021, SRC is seeking to recover RM16 million that was allegedly transferred to Umno by jailed former prime minister Datuk Seri Najib Razak when he was the Umno president.
SRC and its subsidiaries claim that Umno knew, or ought to have known, that the money belonged to SRC, and that Umno had no basis to receive the funds.
SRC is a former subsidiary of 1Malaysia Development Bhd (1MDB).
Also in this suit, SRC seeks to recover RM3.5 million from Umno Selangor, a sum which it claims had been wrongfully received by the party.