Rosmah Ordered To Pay RM67.5M or Face Possible Bankruptcy

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(source: Bernama / Berita Harian)

Datin Seri Rosmah Mansor has been ordered to pay RM67,461,027.37 within one month after she was found liable for failing to return 43 pieces of luxury jewellery consigned to her by Lebanese jeweller Global Royalty Trading SAL Ltd.

Rosmah failed to return 43 of 44 jewellery items

Image for illustration purposes only. (source: Carlos Esteves / Unsplash)

The company has stated it would be exhausting all legal options to recover the sum, even if Rosmah is declared bankrupt, according to senior lawyer Datuk David Gurupatham.

“We will execute the judgment until we recover every penny, or she is declared bankrupt. Those are my instructions from the client,” he told New Straits Times.

But he emphasised that bankruptcy proceedings would only be a last resort.

The jewellery had initially been delivered to Rosmah for viewing on consignment. The court found that she had not paid for nor returned them.

Rosmah, on the other hand, claims the jewellery was seized during police raids linked to the 1MDB scandal in 2018. The court, however, has dismissed this claim.

Of the 44 items consigned to Rosmah by Global Royalty, only one item (a diamond emerald bracelet) was returned after forfeiture proceedings.

So what happens now?

(source: Eizairi Shamsudin / New Straits Times)

Global Royalty has a few options. This includes:

  1. Seizure and sale proceedings (seizing Rosmah’s assets and publicly auctioning them off)
  2. A garnishee order (the bank freezes Rosmah’s funds and redirects them to Global Royalty)
  3. A judgement debtor examination, which would require Rosmah to appear in court under oath and declare her finances

If none of those legal avenues yield any favourable results, then bankruptcy proceedings become a more viable option.

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