1Malaysia Development Berhad (1MDB) and its former chief financial officer, Radhi Mohamad, have reached an agreement to withdraw a US$5.64 billion civil suit against him.
The agreement was reached on Thursday, with both sides agreeing to record a consent order in court. Under the order, the suit against Radhi will be discontinued without the option to file a fresh case.
High Court Judicial Commissioner Mohamad Redzuan Idrus subsequently ordered that Radhi be removed as a co-defendant in the proceedings.
The civil trial, involving former prime minister Datuk Seri Najib Razak and five other defendants, entered its eighth day on Thursday. The proceedings will resume on Monday, with former 1MDB CEO Datuk Shahrol Azral Ibrahim continuing to give evidence.
1MDB and its subsidiaries filed the suit in May 2021, alleging breaches of trust, statutory duties, abuse of power and conspiracy to misappropriate funds.
