When must Jho Low and his father disclose their assets?

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Jho Low and His Father Must Disclose Assets Within 14 Days of Order Service

Fugitive businessman Low Taek Jho, also known as Jho Low, and his father, Tan Sri Larry Low Hock Peng, are required to disclose their assets and whereabouts within 14 days of the service of a Mareva disclosure order. This directive stems from a High Court decision that dismissed their application to set aside a Mareva injunction obtained by 1Malaysia Development Berhad (1MDB) and one of its subsidiaries. The court also ruled that personal service of the inter partes order could be dispensed with, allowing for service by leaving a copy at their last known address in Tanjung Bungah and serving their solicitors on record.
Compliance Deadline for Asset Disclosure

The High Court judge ordered Jho Low and his father to comply with the inter-partes Mareva disclosure order concerning their assets and whereabouts within 14 days from the date the order is served through their legal representatives. This disclosure is a critical component of the Mareva injunction, which aims to prevent the dissipation of assets.
Consequences of Non-Compliance

Should Jho Low and his father fail to adhere to the inter-partes Mareva disclosure orders, they face significant legal repercussions. The court has stipulated that non-compliance would result in them being debarred from being heard in the ongoing proceedings. Furthermore, their defence would be struck out, and 1MDB would be granted liberty to apply to enter a judgment against them.
Mareva Injunction Details

The Mareva injunction, initially obtained by 1MDB and Global Diversified Investment Company Limited, prevents Jho Low and his father from transferring or dissipating assets totalling US$1.03 billion and US$401.5 million, respectively. The injunction also imposes a monthly spending limit of RM20,000 each for living and legal expenses, with any amount exceeding this requiring prior written permission from 1MDB and Global Diversified's lawyers.
Legal Proceedings and Amendments

The court's decision also allowed 1MDB's application to amend the writ of summons, a minor adjustment related to the calculation of the claim. The next case management for these proceedings has been scheduled for June 13. This ongoing legal action is part of a larger suit filed by 1MDB and its subsidiaries against Jho Low, his father, and several other individuals concerning substantial sums.

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When must Jho Low and his father disclose their assets?

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