The High Court dismisses the duo’s application to strike out the suit, saying the case must go to trial.
1MDB filed the multi-billion ringgit suit against Arul Kanda Kandasamy and Irwan Serigar Abdullah, alleging breach of trust and conspiracy against the sovereign wealth fund.
“The court will give utmost attention to the defendants and the defence they want to raise. This also applies to the plaintiff ,” he said. In May 2021, 1MDB filed the suit against the duo, claiming breach of trust and conspiracy, which allegedly caused 1MDB to suffer losses of US$1.83 billion in relation to its investment in 1MDB-Petrosaudi Ltd, which was converted into an investment into Brazen Sky Limited, said to be found in the Bridge Global Fund.
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