KUALA LUMPUR, Sept 30 — Former Minister in the Prime Minister’s Department Datuk Mohd Zaid Ibrahim has settled his two legal actions against his former partners in the legal firm, Zaid Ibrahim & Co (Zico).
In a joint statement today, Mohd Zaid and his former partners, Chew Seng Kok and Datuk Seri Nik Norzrul Thani Nik Hassan Thani, said they had resolved all matters to their mutual satisfaction.
“In the matter of the legal proceedings between Mohd Zaid Ibrahim and Zaid Ibrahim & Co and others, we wish to announce that the parties have resolved all matters to their mutual satisfaction.
“The solicitors have been instructed to withdraw all the legal proceedings. We are pleased to put this behind us and wish each other the best in moving forward,” they said.
Meanwhile, Mohd Zaid’s counsel Nizam Bashir confirmed to Bernama that his client has settled his two suits against his former partners and Zico and will withdraw the suits later at the High Court.
On November 24 last year, Mohd Zaid filed the writ of summons and statement of claim against Zico to stop the firm from using his name in legal practice and to demand the return of the firm’s name, besides seeking an injunction to restrain the defendant from using his name in any form or style as the name of the firm.
Mohd Zaid also filed an originating summon on December 18 last year and named Chew, who is Zico Holdings Inc (Singapore company) managing director, legal firm’s executive director Nik Norzrul and Zico as the first to the third defendants.
Mohd Zaid claimed that in 2014, the defendants had launched an exercise to exploit the brand ‘Zico’ by setting up a separate company incorporated in Singapore and is known as Zico Holdings Inc which acquired important operating divisions for the firm for a consideration in which the first defendant became the largest shareholder in Zico Holdings Inc.
Therefore, Mohd Zaid requested the defendants to disclose the documents required by the plaintiff to make his claim based on the causes of action in the contract, tort and breach of trust against all the defendants and sought appropriate remedies such as a perpetual injunction to prevent the firm from continuing to use its name as a practice name in the lawsuit and other relief deemed fit by the court. — Bernama