Malaysia’s Tanjung Offshore has filed a property-related suit in the High Court of Kuala Lumpur against four defendants, among them its former managing director.
Harzani Azmi, who was suspended by Tanjung Offshore in 2014 over financial irregularities, and the other defendants have been accused by Tanjung Offshore and its co-plaintiff 7 New Market Street of breaching duties relating to the refurbishment of an office block in Birmingham, UK.
One of the defendants, Cross Space Securities, was contracted to renovate and refurbish the eight-floor block for £4.8m, which was advanced by Tanjung Offshore.
“The claim brought by the plaintiffs relate to a breach of contract, breach of fiduciary duties, negligence, breach of trust and/or conspiracy against the defendants, or any one of them, in view of the acts and/or omissions of the said defendants in their conduct during and events transpiring after the development agreement,” Tanjung Offshore said today in an exchange filing.
In February, Azmi was charged with fraudulently inducing Tanjung Offshore to acquire a 49% stake in Gas Generators in October 2013. He was also charged with money laundering.
