What happens if Rosmah fails to meet the payment deadline?

Question

Accepted Answer

Execution proceedings may be taken against Rosmah if payment deadline is missed

Should Datin Seri Rosmah Mansor fail to deposit RM67.4 million into a joint stakeholder account within one month, Global Royalty Trading SAL will be permitted to initiate execution proceedings. This court order is pending Rosmah's appeal in a lawsuit filed by the Lebanese jeweller concerning the value of 43 pieces of jewellery. The High Court specified that a failure to meet this payment deadline would lift the conditional stay of execution that had been granted.
Conditional Stay of Execution Granted

The High Court ordered a conditional stay of execution for Rosmah pending her appeal to the Court of Appeal. This means the stay is not automatic and is contingent on her fulfilling the court's directive regarding payment. The court found that Rosmah, as the defendant, needed to demonstrate special circumstances to justify a stay, and simply filing an appeal was not sufficient grounds on its own.
Justification for Stay Considered

Rosmah had argued that the judgment sum was too substantial for an individual to pay, and she also claimed her jewellery had been seized during a raid by a third party. However, the court indicated that the sheer size of the sum, by itself, did not automatically warrant a stay of execution. The court needed more than just the assertion of financial burden to grant an unconditional stay.
Payment into Joint Stakeholder Account

The specific directive from the court is for Rosmah to pay the judgment sum into a joint stakeholder account maintained by the solicitors for both parties. This action must be completed within one month from the date of the court's order. This measure is intended to secure the sum while the appeal process is ongoing.
Background of the Lawsuit

The lawsuit was initiated by Global Royalty Trading SAL to recover the value of 44 luxury jewellery items, estimated at RM67,461,027.37. These items were reportedly delivered to Rosmah in 2018 on a consignment basis for viewing. Global Royalty filed suit in 2023, seeking the return of the items or their monetary value, as they were allegedly never returned after being seized during a 2018 police raid. Only one item, a diamond and emerald bracelet, was recovered and returned to the company through separate forfeiture proceedings.

Reading history

Hide →

This history is cleared when the page is closed.

What happens if Rosmah fails to meet the payment deadline?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends