February 14, 2012
"Hiccup" delays allotment over Tajuddin's Appeal
S Pathmawathy@www.malaysiakini.com
12:59PM Feb 13, 2012
Former Malaysia Airlines (MAS) head Tajudin Ramli has cited a "last-minute hiccup" in ironing out conditions of allotment with Pengurusan Danaharta Bhd (Danaharta) in a case prior to a Court of Appeal.
Justice Abu Samah Nordin concluded to adjourn a proceedings to 2.30pm tomorrow(February 14) after Tajuddin's lawyer, Lim Kian Leong, said some-more time is indispensable to finalise multiform "procedural matters".
The interest pertains to a Kuala Lumpur High Court order upon Dec 7, 2009 which requires Tajuddin to pay Danaharta RM589.14 million with 2 percent annual interest upon top of a bottom lending rate of Malayan Banking Bhd, backdated to Jan 1, 2006.
Danaharta is handling loans which Tajuddin had incurred in purchasing MAS shares in a 1990s.
Lim indicated this sunrise which a parties concerned have reached a settlement, a conditions of which were not divulged in court.Lawyers representing Danaharta as well as a supervision concluded to a postponement. However, alternative parties objected, insisting which unless Lim could suggest an declaration which a process would be completed by tomorrow, a interest should go on.
"If we could give a little declaration (I would) though my customer believes which it can be resolved by tomorrow. A good understanding of effort has been put in removing us this far we understand a frustration," replied Lim. " we have made outrageous swell so far this is just a last-minute hiccup."
Justice Abu Samah is sitting with Justices Syed Ahmad Helmy Syed Ahmad as well as Alizatul Khair Osman Khairuddin.
Tajuddin, in his confirmation performed by Malaysiakini final week, s! aid whic h Danaharta had requested to solve a matter "out of court" as well as for for "all relevant cases" to be shelved until a allotment is finalised.
He stated which he cannot divulge a conditions of allotment in public until a supervision as well as Finance Ministry have been briefed as well as a government-linked companies are informed.
Among those who have filed suits opposite Tajuddin are Danaharta, Telekom Malaysia, Celcom (M) Bhd, CIMB, Naluri Corp Bhd, Atlan Holdings Bhd as well as MAS.
Suits withdrawn
Tajuddin became a largest shareholder in MAS, after he borrowed RM1.79 billion from a supervision in 1994 to squeeze a 32 percent interest in a inhabitant carrier.
Severely affected by a Asian financial predicament in 1997 as well as 1998, Tajuddin in 2001 assured a supervision to buy behind a MAS shares at RM8 per share.
However, Tajuddin failed to repay a multi-million ringgit loans taken to squeeze MAS, following which Danaharta filed a fit opposite him in 2006, looking RM589.14 million with interest.
He afterwards filed a counter-suit claiming RM13.46 billion from a little twenty-two parties as well as individuals. The aristocrat claimed which he had acted upon a instructions by afterwards premier Dr Mahathir Mohamad as well as finance apportion Daim Zainuddin to take over MAS. Mahathir, however, has denied ever having given such instructions.
Minister in a Prime Minister's Department Mohd Nazri Abdul Aziz, in a minute final August, had sensitive litigants which a supervision as well as a Finance Ministry had concluded which all suits opposite Tajuddin would be cold for an out-of-court settlement.
The authorised team was to be transposed by lawyers from Hafarizam Wan Aishah & Mubarak, a organisation which continually acts for UMNO, in a bid to s! ave a su pervision billions of ringgit.
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