Court of Appeal revives 1MDB bid to challenge US$3.7b judgment against Jho Low and father

PETALING JAYA, Oct 19 — The Court of Appeal today gave 1Malaysia Development Berhad (1MDB) and four of its subsidiaries another chance to challenge a High Court ruling that ordered fugitive financier Low Taek Jho, better known as Jho Low, and his father, Larry Low Hock Peng, to pay more than US$3.7 billion.

According to Free Malaysia Today (FMT), the three member bench, chaired by Justice Azhahari Kamal Ramli, directed that the application be heard afresh before a different High Court judge. Case management has been fixed for October 26.

Justice Azhahari, sitting with Justices Ahmad Kamal Shahid and Alice Loke, made no order as to costs.

The appeal stemmed from the Kuala Lumpur High Court’s refusal last year to set aside a judgment in default obtained by the five companies in 2022. 

That judgment was entered after the defendants’ defences were struck out for breaching a Mareva injunction, which prohibits parties from dissipating assets.

The five companies had asked for the judgment to be set aside so the case could proceed to a full trial and allow them to seek wider remedies against Jho Low and his father.

However, the High Court dismissed the application on the ground that it was filed out of time.

Lawyer Lee Shih, assisted by Priyadana Annadurai, appeared for 1MDB and its subsidiaries. Neither Jho Low nor his father was present or represented in court.