Monday, 14 Dec 2020 01:32 PM MYT
On July 16, Justice Mohd Nazlan granted the government’s application for an interim order to block PSI, its director Tarek Obaid and its subsidiary, PSOS-VZ from moving the monies linked to 1MDB and kept in a client’s account at the United Kingdom-based law firm, to other entities. Reuters pic
Subscribe to our Telegram channel for the latest updates on news you need to know.
KUALA LUMPUR, Dec 14 The government is still in the process of negotiating with several parties, including PetroSaudi International Limited (PSI) and PetroSaudi Oil Services (Venezuela) Limited (PSOS-VZ), in its application to freeze over US$340 million of alleged 1Malaysia Development Berhad (1MDB) funds kept in a client’s account at a UK law firm.
14 Dec 2020 / 14:07 H.
KUALA LUMPUR: The government is still in the process of negotiating with several parties, including PetroSaudi International Limited (PSI) and PetroSaudi Oil Services (Venezuela) Limited (PSOS-VZ), in its application to freeze over US$340 million of alleged 1Malaysia Development Berhad (1MDB) funds kept in a client’s account at a UK law firm.
Lawyer Alex Tan, appearing for PSOS-VZ informed Justice Mohd Nazlan Mohd Ghazali this during the case management proceeding today.
“I believe the parties are still in the midst of finding an alternative to resolve this matter and will be needing more time. We humbly request for another mention date before this court for us to update if the negotiations are successful,” said the lawyer.