1MDB in talks to settle lawsuit with Deutsche Bank

1MDB is negotiating a settlement with Deutsche Bank over a lawsuit, with proceedings discussed in the Federal Court today.

The lawsuit, filed in 2021, claims breaches of contract and conspiracy by Deutsche Bank and several others, but terms of the settlement are undisclosed.

Additional documents will be included in 1MDB's appeal against a decision favouring White & Case, with the court ordering case management to set a hearing date.

PUTRAJAYA, Oct 12 — 1Malaysia Development Berhad (1MDB) is in talks with Deutsche Bank (Malaysia) Berhad to settle a lawsuit filed against the bank.

1MDB’s counsel, Datuk Lim Chee Wee, informed the Federal Court of the settlement talks during proceedings today before a three-member panel led by Chief Judge of Malaya Datuk Seri Hashim Hamzah.

The panel, comprising Chief Judge of Sabah and Sarawak Datuk Seri Azizah Nawawi and Federal Court Judge Datuk Ravinthran N. Paramaguru, was hearing 1MDB’s application for leave to appeal against a decision in favour of UK law firm White & Case LLP.

“We have already informed the High Court that there is a proposed settlement between our client (1MDB) and Deutsche Bank. The hearing for that case is scheduled for October 26 before High Court Judicial Commissioner Rihada Rafie,” Lim said.

However, the terms of the proposed settlement were not disclosed.

On May 7, 2021, 1MDB filed a US$1.83 billion suit against seven defendants, alleging breach of contract, negligence and criminal conspiracy in the misappropriation of its funds.

1MDB named Deutsche Bank (Malaysia) Berhad, Coutts & Co, JP Morgan (Switzerland), Petrosaudi International, Petrosaudi Holdings (Cayman), Tarik Obaid and Patrick Mahony as the first to seventh defendants.

The plaintiff alleged that all the defendants conspired to defraud 1MDB, and provided dishonest assistance causing losses to the company as well as damaging 1MDB’s reputation and good name.

However, on November 13, last year, 1MDB had dropped JPMorgan and Coutts and Co from the suit.

Meanwhile, on 1MDB’s application for leave to appeal to the Federal Court, counsel Datuk Dr Cyrus Das, representing White & Case, told the panel that he objected to 1MDB’s application to include more than 3,000 pages of additional documents in support of its leave application.

Another counsel for 1MDB, Khoo Guan Huat, informed the court that the issue had been raised during case management before the Federal Court last week.

The panel then allowed 1MDB’s application to include the additional documents and directed that affidavits be filed. The court also ordered that case management be held today to fix an early hearing date for the application.

On August 20, this year, the Court of Appeal granted an appeal by White & Case LLP against a High Court decision that allowed a lawsuit filed by 1MDB on alleged fraud to be heard in Malaysia, ruling that the High Court lacked the jurisdiction to hear 1MDB’s suit against the firm.

1MDB filed the suit in the Kuala Lumpur High Court in 2024, seeking US$1.83 billion and US$33 million in losses from White & Case and Mahony. The fund alleged that White & Case assisted PetroSaudi in committing fraud and conspired to harm 1MDB while acting as its legal counsel.

Last year, the High Court rejected White & Case’s challenge, ruling that it could hear the lawsuit because the trial witnesses are located in Malaysia. — Bernama

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1MDB正在与德意志银行就一起诉讼进行和解谈判，相关程序今天在联邦法院进行了讨论。

该诉讼于 2021 年提起，指控德意志银行和其他几家公司违反合同和串谋，但和解条款尚未公开。

1MDB 将就有利于 White & Case 的裁决向其提起上诉，并附上其他文件。法院已责令案件管理部门确定听证日期。

布城，10 月 12 日讯——一马发展有限公司 (1MDB) 正在与德意志银行（马来西亚）有限公司进行谈判，以解决针对该银行提起的诉讼。

1MDB 的律师拿督林志伟在今天由马来亚首席法官拿督斯里哈希姆·哈姆扎领导的三人小组主持的联邦法院庭审中，通报了和解谈判的情况。

该小组由沙巴和砂拉越首席法官拿督斯里阿兹扎·纳瓦维和联邦法院法官拿督拉文特兰·N·帕拉马古鲁组成，正在审理 1MDB 申请上诉许可，以推翻英国律师事务所 White & Case LLP 的裁决。

林先生表示：“我们已经告知高等法院，我们的客户（1MDB）与德意志银行之间已达成和解方案。该案的听证会定于10月26日在高等法院司法专员里哈达·拉菲面前举行。”

然而，拟议和解方案的具体条款并未公开。

2021 年 5 月 7 日，1MDB 对七名被告提起 18.3 亿美元的诉讼，指控他们违反合同、疏忽大意和串谋犯罪，挪用其资金。

1MDB将德意志银行（马来西亚）有限公司、顾资银行、摩根大通（瑞士）、Petrosaudi International、Petrosaudi Holdings（开曼）、Tarik Obaid和Patrick Mahony列为第一至第七被告。

原告指控所有被告合谋诈骗 1MDB，并提供不诚实的协助，导致公司遭受损失，并损害了 1MDB 的声誉和名誉。

然而，去年 11 月 13 日，1MDB 将摩根大通和 Coutts and Co 从诉讼中撤出。

与此同时，在 1MDB 向联邦法院申请上诉许可时，代表 White & Case 的律师 Datuk Dr Cyrus Das 告诉小组，他反对 1MDB 申请在其上诉许可申请中增加 3000 多页的附加文件。

1MDB 的另一位律师邱冠发告诉法庭，上周在联邦法院的案件管理中已经提出了这个问题。

随后，委员会允许1MDB的申请补充文件，并指示提交宣誓书。法院还下令今天举行案件管理会议，以确定该申请的早期听证日期。

今年 8 月 20 日，上诉法院批准了 White & Case LLP 律师事务所对高等法院裁决的上诉，该裁决允许 1MDB 就涉嫌欺诈提起的诉讼在马来西亚进行审理。上诉法院裁定，高等法院没有管辖权审理 1MDB 对 White & Case LLP 律师事务所的诉讼。

1MDB于2024年在吉隆坡高等法院提起诉讼，向White & Case律师事务所和Mahony律师事务所索赔18.3亿美元和3300万美元的损失。该基金指控White & Case律师事务所在担任1MDB的法律顾问期间，协助PetroSaudi实施欺诈并串谋损害1MDB的利益。

去年，高等法院驳回了伟凯律师事务所的上诉，裁定由于审判证人身处马来西亚，因此高等法院有权受理此案。——马新社

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