KUALA LUMPUR (Dec 18): The High Court has given SRC International Sdn Bhd and the United Malays National Organisation (Umno) a final extension until Jan 9, 2025, to reach a settlement in a RM19.5 million civil suit.
Lawyers for both parties informed High Court judge Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan on Wednesday morning that they had yet to reach an agreement, despite being close to a resolution.
Judge Raja Ahmad expressed disappointment, noting that this was the third extension granted to the parties. The trial was originally scheduled to begin on Nov 18.
The parties have been actively pursuing a settlement since November.
If a settlement is not reached by Jan 9, the trial will commence from Jan 20, 2025, with the first witnesses being called to testify.
SRC lawyer Kwan Will Sen confirmed these details to The Edge.
In this lawsuit filed in 2021, SRC is seeking to recover RM16 million allegedly transferred to Umno by former Umno president Datuk Seri Najib Razak, and RM3.5 million that was allegedly wrongfully received by Umno Selangor.
SRC and its subsidiaries contend that Umno knew, or should have known, that the funds belonged to SRC and that Umno had no legitimate claim to them.
SRC is a former subsidiary of 1Malaysia Development Bhd (1MDB).