Aug 4 decision for 1MDB's bid to obtain documents in suit against Riza Aziz

The High Court today set Aug 4 to deliver its decision on the application by 1MDB and three of its subsidiaries to obtain documents in the US$248 million suit against Hollywood film producer Riza Aziz and two of his companies for allegedly misusing the strategic investment company’s funds.

Counsel Hariharan Tara Singh, representing Riza, Red Granite Pictures Incorporated and Red Granite Capital Limited, said judge Amarjeet Singh set the date after hearing arguments from both parties.

"The decision will be delivered via email," he said when met by reporters. 

The plaintiffs’ counsel, Rabindra S Nathan, confirmed the matter.

1MDB and its subsidiaries filed the application on Jan 28, seeking documents including correspondence between fugitive businessman Low Taek Jho or Jho Low and Riza, and documents relating to the receipt and use of US$10,173,104 in funds by Red Granite Pictures and US$238 million by Red Granite Capital.

Based on the supporting affidavits in the application, 1MDB director Mohd Hisyamuddin Awang Abu Bakar said the documents would assist the plaintiffs in proving their claim and enable them to obtain further information to support their claims in the suit.

According to an affidavit-in-reply, Riza said he was advised by lawyers and firmly believed that the documents sought by the plaintiffs were only an attempt to fish for further information.

On May 7, 2021, 1MDB and its subsidiaries sued Riza and his two companies for allegedly receiving around US$248 million in funds which they then misused for their personal gain, including to finance a film and to purchase various properties.

They also claimed that since Riza managed both companies, he would have known that the money originating from 1MDB had been misappropriated for their gain.

Riza, in his defence, claimed that the funds were obtained from a loan from the Saudi royal family or International Petroleum Investment Company and not from 1MDB. He said it was hard for an unknown film producer to obtain loans from banks and that this had compelled him to seek funds from individuals or companies.