KUALA LUMPUR, Oct 29 (Bernama) -- The High Court here today granted Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim's application to suspend an order to pay Bank Islam Malaysia Berhad (BIMB) RM66.67 million pending the trial of his suit against the bank, set for early February next year.

Justice Datuk Rohana Yusuf made the decision in chambers after hearing submissions from both parties.

Abdul Khalid was ordered by the court on Aug 21, to pay the amount to BIMB for a loan he had taken to buy shares in Guthrie in 2001 when he was the chief executive officer of the company, after the court allowed the bank's application for a summary judgment.

Abdul Khalid also appealing against the order at the Court of Appeal but no date has been fixed.

His counsel, Malik Imtiaz Sarwar, told reporters that he had submitted that the court should grant the stay application pending the outcome of the full trial of Abdul Khalid's suit against the bank because it involved his client's reputation as if he was unable to pay the amount.

Counsel N.Ganesan for the bank submitted that the order was on the money judgment and not on his reputation.

Abdul Khalid filed the suit on May 18, 2007, claiming that there was a wrongful sale of his shares in Guthrie under an Al-Bai Bithaman Ajil (BBA) loan facility dated April 30, 2001.

He is seeking a declaration that there was a collateral contract between him and the bank relating to the BBA loan facility.

Abdul Khalid, who was Guthrie Berhad Group CEO from 1995 to 2003, is also seeking damages from BIMB, claiming that the bank had sold his shares in Guthrie.

BIMB filed a counter suit to recover the amount on May 24, 2007, claiming that the Al-Bai Bithaman Ajil agreement had been breached following Abdul Khalid's failure to repay the loan.