What is the total amount 1MDB is seeking in its lawsuit?

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1MDB Seeks US$6.59 Billion Plus an Additional RM2.9 Million in Lawsuit

1Malaysia Development Berhad (1MDB) is seeking a total of US$6.59 billion in its lawsuit against former Treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah and former 1MDB chief executive officer Arul Kanda Kandasamy. In addition to this substantial sum, 1MDB is also demanding an extra RM2.9 million from Mohd Irwan specifically related to an Employment Extension Agreement.
Lawsuit Alleges Breach of Trust and Conspiracy

The lawsuit, filed by 1MDB in May of the previous year, alleges that both Arul Kanda and Mohd Irwan engaged in breach of trust and conspiracy. These actions are claimed to have directly caused 1MDB to suffer significant financial losses. The suit details losses amounting to US$1.83 billion concerning an investment in 1MDB-Petrosaudi Ltd, which was subsequently converted into an alleged investment in Brazen Sky Limited held within the Bridge Global Fund.
Misappropriation of Funds and Employment Agreement Claim

Further allegations in the suit state that the defendants misappropriated 1MDB funds totalling US$3.5 billion paid to Aabar Investments and an additional US$1.265 billion paid to IPIC on May 9, 2017. Additionally, 1MDB claims that Mohd Irwan conspired with Arul Kanda to implement an Employment Extension Agreement. This agreement allegedly resulted in a substantial payment of RM2,905,200 to Arul Kanda, irrespective of 1MDB's best interests, thereby causing further losses to the company.
Judicial Commissioner to Hear Strike-Out Applications

The applications by both Mohd Irwan and Arul Kanda to strike out the US$6.59 billion suit will be heard by a new judicial commissioner, JC Roz Mawar Rozain, at the High Court in Kuala Lumpur. This follows the transfer of the previous judge, Datuk Amarjeet Singh. The hearing date for these strike-out applications has been maintained for October 19, with further case management scheduled for September 27. Arul Kanda filed his application in June, while Mohd Irwan's application was submitted on February 18.

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What is the total amount 1MDB is seeking in its lawsuit?

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