Zaid settles suits against ex-partners

October 1, 2021Last Updated: October 1, 2021

Zaid settles suits against ex-partners

PETALING JAYA: Former minister Zaid Ibrahim has settled his lawsuits against his former partners in legal firm Zaid Ibrahim & Co (ZICO).

In a joint statement today, Zaid and his former partners, Chew Seng Kok and Nik Norzrul Thani Nik Hassan Thani, said they had “resolved all matters to their mutual satisfaction”.

“We are pleased to put this behind us and wish each other the best in moving forward,” they said, adding that their lawyers would withdraw the cases before the court.

Zaid had filed a suit against Chew and Nik Norzrul last year to stop them from using the ZICO name in their practice.

He claimed that he had built a name for ZICO, “particularly in obtaining empanelment with financial institutions and government-linked corporations”.

Zaid returned to the firm as equity partner and chairman in November last year but was terminated shortly after on grounds that he had engaged in “unauthorised acts”.

Besides the lawsuit, Zaid also filed an application to obtain documents for his civil action against Chew and Nik Norzrul. The High Court had granted his request for documents on May 10.

He wanted Chew and Nik Norzrul as well as Singapore-based ZICO Holdings Inc to disclose documents in their possession to enable him to formulate and plead his action in contract, tort or breach of trust.