Hearing of US$340 mln 1MDB-linked suit postponed, prosecution awaits response from UK law firm

KUALA LUMPUR: The hearing of the government's application to block PetroSaudi International Ltd (PSI) and its director, Tarek Obaid, from using over US$340 million linked to 1Malaysia Development Berhad (1MDB) which was kept in a client's account at a United Kingdom's law firm has been postponed.

He also told the court that the legal firm had acknowledged the documents had been served to them and it was received by its representative, Sarah Wheatly.

Lawyer Alex Tan and Datuk Mohd Yusof Zainal Abiden, representing PSI's South American subsidiary company, PetroSaudi Oil Services (Venezuela) Ltd (PSOS-VZ) and Tarek Obaid, respectively, did not object to the prosecution's application.

On July 16 last year, the court granted the government's application for an interim order to block the parties from moving the monies linked to 1MDB and kept in a client's account at the United Kingdom-based law firm, to other entities.

Besides the US$340 million, the government, in its application is also seeking unspecified money that was deposited under an intermediate account name, Temple Fiduciary Services Limited, at Barclays Bank in the UK.

-- BERNAMA