Last July 16, Justice Mohd Nazlan allowed the government’s application for an interim order to block PetroSaudi International Ltd and its director Tarek Obaid from moving over US$340 million to other entities until the disposal of the main application on Aug 28. — Reuters pic
The monies were said to be linked to 1Malaysia Development Berhad and kept in an escrow account of Clyde & Co law firm in the United Kingdom. “Due to the latest development in London, I require further instruction from my client. I seek a short adjournment from the court to make the necessary application,” he said.After the proceedings, Tan told reporters that the application was to vary the terms of the order granted by the court on July 16.
The government had filed the application on July 10, seeking a prohibition order to restrain any dealings of the monies amounting to US$340, 258,246.87 belonging to PSI and its subsidiary, PSOS-VZ held in Clyde & Co LLP.