1Malaysia Development Bhd (1MDB) has won a fresh hearing of its bid to overturn a US$3.78 billion default judgment against fugitive financier Low Taek Jho, better known as Jho Low, and his father, Larry Low Hock Peng.
The Court of Appeal on Monday allowed an appeal by 1MDB and four subsidiaries, ordering the High Court to rehear their application in full before a different judge.
A three-judge panel comprising Justices Azhahari Kamal Ramli, Ahmad Kamal Md Shahid and Alice Loke Yee Ching fixed Oct 26 for case management.
The decision gives 1MDB another opportunity to challenge the judgment after the High Court dismissed its application last year, citing a delay of almost three years in seeking to set it aside.
The default judgment, entered in 2022, ordered Jho Low and his father to pay US$3.78 billion, with annual interest of five per cent calculated from dates between 2010 and 2014 until full settlement.
The judgment followed the striking out of their defences for failing to comply with a Mareva injunction, which restrains parties from disposing of or transferring assets.
In its 2025 application, 1MDB and its subsidiaries argued that they had not been aware of evidence that emerged in overseas proceedings when the judgment was entered. They said the alleged fraud was sophisticated and involved entities across multiple jurisdictions, and sought a full trial and additional remedies.
The original suit, filed in May 2021, also named Jho Low’s mother, Goh Gaik Ewe, siblings Taek Szen and May Lin, and associate Tan Kim Loong. The claims included fraudulent concealment, fraudulent misappropriation and unjust enrichment.
The Court of Appeal’s ruling does not set aside the US$3.78 billion judgment or determine the merits of the underlying claims. It directs the High Court to reconsider 1MDB’s application. - October 19, 2026