KUALA LUMPUR: Tycoon Tan Sri Halim Saad and Amanah International Finance Sdn Bhd (AIF) are in discussions for an amicable resolution of their issues.
Last week, it was reported that the Kuala Lumpur High Court ordered Halim to pay RM62 million to AIF for breach of a financing agreement entered in 2015.
That report was based on the grounds of judgment on May 10 this year though the High Court decided on the case as far back as January 2023.
An appeal was filed the following month.
Halim's lawyer Mohd Faiz Iskandar Hamzah, said there have been "significant" developments since the decision was made last year.
"Both parties have been actively engaged in discussions aimed at an amicable resolution of their issues," said Faiz.
"These discussions, intended to resolve the matter respectfully and without prejudice to the continuing appeal process, illustrate a mutual commitment to a concerted settlement."
In last year's case, the High Court also found Hektar Premier Sdn Bhd (HP), a company controlled by Halim, was liable to pay and discharge the amounts due from Halim to AIF.
In 2018, AIF filed a suit against Halim claiming a sum of RM62,031,201.48 for breach of the facility agreement signed in June 2015.