Court grants conditional stay on ruling that Rantai Wawasan shares belong to Jamaluddin Jarjis' estate

TheEdge Mon, Sep 20, 2021 09:53pm - 2 years View Original


KUALA LUMPUR (Sept 20): The children of Tan Sri Jamaludin Jarjis today obtained a conditional stay from the High Court here on its ruling last month that Rantai Wawasan Sdn Bhd shares be considered as part of the estate of the late minister.

The conditional stay was granted by Justice Datuk Seri Mohd Firuz Jaffril in chambers via an online hearing late this afternoon, for the appeal filed by Jamaluddin's children, Ikhwan Hafiz Jamaluddin and Nur Anis Jamaluddin, in relation to the suit filed against them by their grandmother, Aminah Abdullah.

Rantai Wawasan, which Jamaluddin acquired in 2012, has among its assets, an independent power utility NUR Power in Kulim, Kedah. Ikhwan Hafiz is both director and managing director of Nur Power, while Nur Anis is also a director.

The children are in the midst of appealing against the High Court's decision in Aug 13 which ruled that the 86-year-old Aminah is entitled to be beneficiary to the former minister's estate, and that she has an interest in three companies worth over RM1 billion owned by his children. The three companies are: Rantai Wawasan, Alpine Motion Sdn Bhd and Ivory Insights Sdn Bhd.

They filed the appeal to the CoA on Sept 6 over the Aug 13 decision made by Justice Firuz, together with a certificate of urgency, to hear the stay application.

Read: Court rules Jamaluddin Jarjis' mom is entitled to shares in company controlled by grandchildren

In his Aug 13 decision, Justice Firuz also ordered the two siblings, who are administrators of the estate, to take the necessary action to include the Rantai Wawasan shares in the list of Jamaluddin's assets and to account for the dividends, bonuses, right issues profits and loss from the shares to Aminah, within 30 days of the sealed court order.

On Sept 9, the siblings obtained an interim (temporary) stay when the certificate of urgency application was heard before Justice Firuz.

Read: Court grants interim stay of ruling that Rantai Wawasan shares are part of Jamaludin Jarjis' estate

According to a source familiar with the matter, despite the conditional stay granted by the High Court today, the siblings should still provide information on the dividend or bonuses paid out by Rantai Wawasan, but subject to the imposition of non-disclosure clauses.

It was reported that besides this main suit, Aminah has filed two other suits against the two grandchildren, their lawyer, Jamaludin's lawyer and a commissioner of oaths, seeking to be an administrator of the estate.

Read: Jamaluddin Jarjis' mother files another suit against grandchildren over alleged fraud in administration of son's assets

Nur Anis and Ikhwan Hafiz were appointed as joint administrators of Jamaludin's estate in 2017, which Aminah is now challenging, alleging fraud in the estate's administration.

In their defence, the siblings claimed that their elderly grandmother, who is also illiterate, could not manage the estate and alleged that her actions were backed by Jamaludin's half brother Najeb Ali, who has undue influence on her, for his own benefit.

The siblings and the lawyers, one of whom is now a High Court judicial commissioner, sought to strike out this suit on the grounds of multiplicity of proceedings, following the decision in the suit heard by Justice Firuz.

Besides this, Aminah also filed a third suit seeking a portion of the RM21 million left by her son in various bank accounts, kept by the grandchildren.

Read also: Jamaluddin Jarjis' children will apply to strike out their grandmother's suit

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

IVORY 0.060

Comments

Login to comment.