Former YBR chairman's attempt to block MACC asset notice faces steep legal odds

Former Yayasan Bank Rakyat chairman Nazir Hussin Akhtar Hussin and his brother Mubarak lodged an originating summons in the Kuala Lumpur High Court asking the court to declare Section 36 of the MACC Act 2009 unconstitutional and to issue an injunction preventing the Malaysian Anti-Corruption Commission from serving asset declaration notices against them. Bar Council Criminal Law Committee chair Vivekananda Sukumaran and criminal lawyer N. Sivananthan cautioned that courts have consistently declined to interfere with MACC’s investigative powers and that the Specific Relief Act further restricts injunctions against public authorities.

The dispute stems from a MACC probe into a RM10 million YBR investment in Precious Amber International Berhad, which later attracted regulatory action from the Securities Commission. MACC has reportedly seized 15 luxury cars, 12 high-powered motorcycles and other assets during the investigation. Nazir alleges the notice was issued in bad faith and breaches self-incrimination protections, but experts say proving bad faith would be difficult. A case-management hearing is scheduled for today.