Court allows application by Najib, Nazifuddin to postpone bankruptcy proceedings

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The father and son owed the IRB RM1.69 billion and RM37.6 million, respectively, in tax arrears. theSun thesundaily IRB Najib Nazifuddin bankruptcy

: The High Court here today allowed an application by Datuk Seri Najib Abdul Razak and his son, Datuk Mohd Nazifuddin, to postpone the bankruptcy proceedings against them for failing to settle their tax arrears with the Inland Revenue Board pending the disposal of their appeals at the Federal Court.

According to the notice, Najib is required to pay RM1.69 billion with five per cent interest rate per annum on the total balance from July 22, 2020 to Feb 4, 2021, which is RM45.9 million and costs of RM15,000, and as of Feb 4, 2021, the amount payable is RM1,738,804,204.16.

 

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