Bekas pengarah, CFO perlu kongsi liabiliti, kata bekas pengerusi 1MDB
Irwan Serigar Abdullah berhujah keputusan dibuat secara kolektif menerusi undian majoriti, dengan pengerusi tidak mempunyai kuasa atau hak mengundi melebihi pengarah lain.
Former 1MDB chair Irwan Serigar Abdullah has claimed he should not be held personally liable for the company's billion-dollar losses, suggesting the burden should be shared with former co-chairmen Kamal Ali, Norazman Ayob, and former CFO Azmi Tahir. Their lawyer, K Lavinia, argued that the trio's roles and responsibilities during the management decisions from May 2016 to May 2018 warranted shared liability.
The trio had equal voting rights, received the same information, and participated in discussions before decisions were made. Key decisions included investing in Brazen Sky, paying $3.5 billion to Aabar Investments PJS, settling $1.265 billion with International Petroleum Investment Company (IPIC), and extending contracts for former executive Arul Kandasamy.
Lavinia denied claims that other board members were merely following Irwan's instructions, stating that the board's voting minutes showed decisions were made collectively by a majority vote, while the chairperson had no greater voting power than other board members. Regarding Azmi, Lavinia contended that he bore greater responsibility as he was the manager's right-hand man, tasked with providing accurate information to the board.
She alleged Azmi had direct knowledge of the disputed transactions but failed to disclose crucial information, such as payments allegedly made based on oral instructions and the misrepresentation of Low Taek Jho, or Jho Low, in business dealings. Azmi acknowledged receiving instructions from the late former Prime Minister Najib Razak's lawyer, Azlin Alias, and admitted to accepting Jho Low's instructions as equivalent to those from the Minister of Finance.
Azmi also admitted his role in shaping the investment structure of Brazen Sky through individuals who were allegedly his proxies. Lavinia argued that if Irwan was found liable for failing to investigate or being overly dependent on management, the court should also consider whether Azmi's failure to disclose crucial information contributed to the losses.
She maintained that the board could not be held responsible for failing to investigate information not disclosed by their designated advisors.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Bekas pengarah 1MDB bantah permohonan Irwan kongsi liabiliti freemalaysiatoday.com
