A lawyer succeeded in having his name struck out as a defendant in an RM2 billion suit by Felda and its subsidiary Felda Investment Corporation Sdn Bhd (FIC).
The Kuala Lumpur High Court allowed the application by Yeap Yong Yeow today, following brief submissions by parties over the striking-out bid. The court fixed cost at RM5,000.
Following the ruling by judge Wong Chee Lin today, only 20 defendants now remain targeted by the legal action, including former Felda chairpersons Mohd Isa Abdul Samad and Shahrir Abdul Samad, various former directors-general of Felda and Synergy Promenade Sdn Bhd, and Synergy Promenade KLVC Sdn Bhd.
On Nov 15 last year, the Edge Markets reported that Felda and FIC filed the RM2 billion suit against Isa, Shahrir, and the other defendants.
The online business news portal reported the two plaintiffs claiming that the defendants were involved in a joint conspiracy which resulted in injury and loss suffered by the plaintiffs via unlawful means or what it termed “the plundering” of Felda and FIC during the premiership of Najib Abdul Razak.
Citing the suit’s statement of claim, it reported that this was allegedly done by the defendants via the Kuala Lumpur Vertical City (KLVC) project, and that allegedly those named as executors in the suit had purportedly assisted in the cover-up of the alleged fraud in the KLVC project by causing Felda to enter into a scheme of settlement, among other allegations.
The two plaintiffs are seeking compensation through the lawsuit, including RM1.062 billion from the defendants for allegedly violating their fiduciary duties.
During today’s proceedings before the Kuala Lumpur High Court, counsel Wong Hok Mun appeared for Yeap while Felda and FIC were represented by lawyer Kumar Kanagasingam.
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