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KL High Court judge Ahmad Shahrir Mohd Salleh will be presiding over the suit.

Hearing vacated due to extension of conditional MCO in the Klang Valley.

This is due to 'new development where parties need to review their respective position and take instruction'.

Tarek Obaid is a key figure in the botched 1MDB-PSI joint venture.

The money is to be used for the payment of business expenses and legal fees.

UPDATED 3.10PM | The bar is in force until the court hears the main asset forfeiture application on Aug 28.

The move is to prohibit Petrosaudi and its director Tarek Obaid from using a US$340 million fund owned by 1MDB.

He says consent was not obtained due to time constraints and the 'need to get things done'.

Najib agreed to 1MDB lending US$750 million to PSI, subject to 1MDB getting the loan from Socso.

UPDATED 3.47PM | NAJIB TRIAL | The PSI joint-venture would eventually see at least US$1.83b of 1MDB funds misappropriated.