KUALA LUMPUR (Sept 28): The High Court has set Jan 7, 2027, to hear and decide on 1Malaysia Development Bhd (1MDB), its subsidiaries, and SRC International Sdn Bhd's Mareva injunction (asset-freezing order) against Datin Seri Rosmah Mansor, to bar her from disposing of any of her assets amounting to nearly US$350 million (RM1.6 billion).
Judicial Commissioner Datuk Muhammad Adam @ Edward Abdullah set the date during case management on Monday. The freeze order is in relation to the companies’ suit against Rosmah and another person over luxury goods which were allegedly obtained through the misappropriation of the plaintiffs' funds in what is now known as the 1MDB and SRC scandal.
A Mareva injunction is a court order which essentially freezes the defendant's assets to prevent any transfer of said assets that a plaintiff is seeking to recover, until the disposal or determination of the main suit.
The application was filed back in June 2024, where Minister of Finance Inc (MOF Inc) companies and nine other plaintiffs are seeking an injunction preventing Rosmah from disposing of assets amounting to US$346.01 million, whether in the form of credit, company shares, real property, or others.
Besides the Mareva injunction, the companies are also seeking a proprietary injunction, where Rosmah will be barred from transferring, disposing of, or dealing with the items until the full disposal of the case.
On Jan 7, the High Court will also hear and decide on two other applications, namely Rosmah's application for further and better particulars, and 1MDB's application to amend their statement of claim.
Henna Nikita Sanghvi of Messrs Lim Chee Wee Partnership appeared for the plaintiffs on Monday while Sheena Sebastian of Messrs Ahmad Deniel Ruben & Co appeared for Rosmah.
In this suit, the plaintiffs, among others, claim that the goods sought were all “traceable substitutes” of 1MDB and its subsidiaries’ trust property. Therefore, they have an equitable proprietary interest in the luxury goods.
They are asking Rosmah to return any of these items in her possession, and to pay a sum of about US$350 million or an amount to be assessed by the court.
They are also seeking damages or fair compensation, which is to be determined by the court.