Selangor Menteri Besar Abdul Khalid Ibrahim’s dispute with Bank Islam (M) Bhd (BIMB) over the disposal of his Guthrie Bhd shares is not settled yet.

This was disclosed by lawyer S Selvarajah who appeared for Khalid, when the case appeared for case management at the Kuala Lumpur High Court today before Judicial Commissioner SM Komathy Suppiah.

“The court has fixed March 18 for further case management. There is also a Federal court matter pending, with case management fixed on March 4.

“The parties hope that we will reach a global settlement in the matter,” he told Malaysiakini .

This is over BIMB’s RM66 million suit against Khalid in 2007 where he obtained financing facility to purchase Guthrie shares but allegedly failed to pay for it.

As a result, BIMB obtained a summary judgment against Khalid with the court ordering him to pay RM66 million in 2009. A summary judgment is made without the matter going to full trial.

Khalid also filed a counter-claim against Bank Islam for disposing of the shares which were placed in security with the bank, claiming there was a collateral contract between him and BIMB over the Bai-Bithamin Ajil (BBA) loan agreement, the bank had breached the contract and it was wrongful for the institution to sell the shares which were charged under the BBA.

Subsequently, Khalid managed to get a stay order of the KL High Court decision and on appeal, he managed to set aside the summary judgment in 2010.

Previously, it was reported in The Edge Financial Daily last Feb 13 that the matter could reach a possible settlement following the cancellation of the hearing of the matter at the Federal Court.

The Malay Mail Online the next day, in an exclusive interview with Khalid, confirmed the alleged out-of-court settlement with BIMB, where the Selangor MB was quoted as saying that both parties have agreed to it and that the amount is much lower than what the bank had sought.

An anonymous letter sent to several news portals and newspapers had asked for details of the out-of-court settlement to be made public as the author suggested Khalid may have used the water services takeover to strike a deal over his personal legal dispute with BIMB.