Politics · Malaysia Bureau
Court of Appeal allows 1MDB bid to challenge US$3.7b judgment
Malaysia's state investment fund has won permission to pursue an appeal against a massive US dollar judgment awarded against fugitive businessman Jho Low and his father. The Court of Appeal's decision reopens 1MDB's efforts to overturn the damages ruling.
LSN Malaysia ·
The Court of Appeal in Petaling Jaya has granted 1Malaysia Development Berhad (1MDB) and four of its subsidiaries leave to appeal a US$3.7 billion judgment handed down against Low Taek Jho and his father, Low Hock Kin. The ruling allows the state investment fund to pursue its legal challenge against the substantial damages award through the appellate process. The judgment in question stemmed from civil proceedings related to alleged misappropriation of funds and misconduct by the defendants. 1MDB has argued that it has grounds to contest the decision, though details of the specific arguments to be raised in the appeal remain to be presented before the full court. The case represents one of several legal battles connected to the 1MDB scandal, which has drawn international attention and resulted in multiple criminal and civil proceedings across several jurisdictions. The permission granted by the Court of Appeal provides 1MDB with the opportunity to present its arguments before a panel of judges on the substantive matters in dispute.