PUTRAJAYA:
Former prime minister Najib Razak risks being declared bankrupt and having his financial affairs placed under the insolvency authority if he fails to obtain a stay of bankruptcy proceedings initiated by the Inland Revenue Board (LHDN), the Court of Appeal heard today.
His lawyer, Shafee Abdullah, told a three-member bench chaired by Justice Alwi Abdul Wahab that allowing the bankruptcy action to proceed would render Najib’s appeal before the Special Commissioners of Income Tax (SCIT) in September “meaningless”.
“It…