Malaysia’s ex-PM Najib wins pause on bankruptcy proceedings: report

MALAYSIA’S jailed ex-premier Najib Razak won a court bid to halt bankruptcy proceedings against him over RM1.69 billion (US$418 million) in alleged unpaid tax arrears, according to a report by The Edge.

The Court of Appeal on Friday (Sep 4) unanimously ruled to set aside a November decision by the High Court, which means the Inland Revenue Board has to suspend bankruptcy proceedings against the former leader and his son Nazifuddin Najib, who separately has RM37 million in tax arrears, pending a review of the tax bill itself. 

On Friday, a three-member bench at the appellate court ruled some issues including potential double taxation were not considered in the November decision. A large portion of the arrears is related to Najib’s 1MDB cases. BLOOMBERG