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Malaysia ex-PM Najib served with bankruptcy notice over tax bill

Malaysia ex-PM Najib served with bankruptcy notice over tax bill

13 Sept 07:48 Key points summarised by AI
  • Former Malaysian Prime Minister Najib Razak received a bankruptcy notice for failing to pay over $400 million in unpaid taxes accumulated during his time in office.
  • Najib claims the notice is a politically motivated attempt to destroy his career, as a bankruptcy declaration would disqualify him from holding or contesting a parliamentary seat.
  • The tax bill stems from a 2020 court order to settle 1.69 billion ringgit in unpaid taxes, with the notice served shortly after his appeal hearing for a 1MDB-related conviction.
  • Defying the move, Najib denies any wrongdoing, alleging political oppression, and is pursuing legal action to obtain a stay order on the bankruptcy notice.
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