THE 1Malaysia Development Bhd (1MDB) and its subsidiary obtained an ad interim injunction from the Kuala Lumpur High Court today, to prevent Low Taek Jho (Jho Low) from transferring or dissipating any of his assets in Malaysia, which amounts to US$1.03 billion (RM4.3 billion).

Low’s father, Larry Low, is also served with a similar injunction from the companies. Larry’s assets in Malaysia amount to US$401 million.

1MDB counsel Siva Kumar Kanagasabai said the judge allowed the injunction to be enforced until the inter partes application is disposed of.

“An ad interim injunction has been granted on same terms as ex parte ordered. The court has set May 25 for the hearing of the inter partes application.”

1MDB and its subsidiary, Global Diversified Investment Company Ltd, are represented by counsels Siva Kumar, Dhanyaa Shreeya, Kong Xin Qing, Tommy Lim and Wong Chee Lin.

Low and his father are represented by Chong Mun Fong, M. Puravalen and Wong Hong Yi.

On March 15, the court allowed a Mareva injunction by 1MDB and Global Diversified, which are the first and fifth plaintiffs in the suit against Low, his father and several other people.

A Mareva injunction is a temporary order that restrains the defendant from disposing of assets until the determination of the case.

It also limits Low and his father from each spending no more than RM20,000 a month for living and legal expenses. If they need more, they need to get prior written permission from the counsels of 1MDB and Global Diversified.

On May 7 last year, 1MDB and its four subsidiaries filed a US$3.7 billion suit against Low; his father; mother Goh Gaik Ewe; sister May Lin; younger brother Taek Szen; and, associate Eric Tan. – Bernama, March 29, 2022.