Barakah withdraws suit against Petronas and senior management
May 9, 2023
Barakah withdrew the suit against Petronas and senior management
In September last year, Barakah filed a lawsuit against Petronas along with six individuals, for suspending its wholly owned subsidiary, PBJV from bidding for new projects from Petronas in 2019. - Picture/ DagangNews
KUALA LUMPUR: Barakah Offshore Petroleum Bhd has decided to stop its legal action against Petroliam Nasional Bhd (Petronas) for suspending the license of its wholly-owned unit to bid for new projects from the national oil company in 2019.
Barakah also dropped the legal action against the former president and chief executive officer (CEO) of Petronas Tan Sri Wan Zulkiflee Wan Arifin; the current president and Group Chief Executive Officer Datuk Tengku Muhammad Taufik Tengku Aziz and six defendants, including Petronas chief financial officer Liza Mustapha as defendants, according to a filing on Bursa Malaysia.
Other defendants include Shamsudin Miskon, Nasrin Amir, Noor Mohamad Taj, Freida Amat and Shaliza Abdul Malik.
"The company would like to announce that the company has decided to stop its legal action against all the defendants in the Kuala Lumpur High Court civil suit," he said.
Therefore, the suit filed in the Kuala Lumpur High Court against all the defendants has been stopped or withdrawn with immediate effect, he said.
Meanwhile, it said that the financial impact of the withdrawal or termination of the civil suit is limited to legal costs.
"There is no potential liability and operational impact on the company," he added.
In September last year, the oil and gas company filed a suit against Petronas along with the six individuals named above, for suspending its wholly owned subsidiary, PBJV Group Sdn Bhd (PBJV) from bidding for new projects from Petronas in 2019.
Barakah sought a mandatory injunction for license suspension to be revoked, damages for malfeasance in public office, and damages for unlawful interference with trade or business.
Previously, on Sept 29 last year, it also withdrew its appeal against the High Court's decision rejecting a previous claim of RM1.02 billion against Petronas and its unit Petronas Carigali Sdn Bhd at the High Court on March 31, 2022.
Barakah has demanded RM1.02 billion in compensation from Petronas and Petronas Carigali for what it claims was an improper suspension notice
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