Khalid needs bank’s consent to reveal RM67 million debt settlement, his lawyers say
(TMI) – Tan Sri Abdul Khalid Ibrahim does not have the consent of Bank Islam to reveal his RM70 million out-of-court settlement, his lawyers said tonight, referring to the issue that has been questioned by his former party.
The incumbent Selangor Menteri Besar’s lawyer Mathew Thomas Philip broke his silence over the secretive settlement, saying he was aware of the settlement in the case brought by his client against Bank Islam Malaysia Bhd.
Philip said in a statement that he wanted to clarify matters as Shah Alam MP Khalid Samad had divulged information about the settlement in what was described as a “private and confidential meeting”.
“Even as early as 2007, it was part of the overall plan to keep open the possibility of resolving the matter out of court. This is not something new,” he said in the statement issued tonight.
Bank Islam took Khalid to court in 2007 over the former Kumpulan Guthrie Bhd chief executive officer’s purchase of 20% of the company’s shares. Khalid was then the PKR treasurer.
But the Court of Appeal ruled in March 2010 that Khalid need not pay RM66.67 million to Bank Islam when it set aside the summary judgment obtained by the bank against him for failure to settle an Islamic loan facility.
On August 21, 2009, the Kuala Lumpur High Court granted the bank’s application to enter summary judgment against Khalid and ordered him to pay the amount but the appeal court judges Datuk Zainun Ali, Datuk Jeffrey Tan Kok Wha and Datuk Syed Ahmad Helmy Syed Ahmad unanimously allowed Khalid’s appeal with costs and sent the case back to the High Court as they ruled that the issues in the case must get a full trial.
