Malaysia Asks Appeals Court To Restart $1.4B Award Fight
Law360, London (May 30, 2019, 5:06 PM BST) -- The Malaysian government said Thursday that it will ask a London court to restart its legal challenges to a $1.4 billion settlement between Malaysia's scandal-ridden sovereign wealth fund and a state-owned United Arab Emirates investment company, after the dispute was paused pending arbitration earlier this month.
Tommy Thomas, Malaysia’s Attorney General, said the country's finance ministry and its sovereign wealth fund, 1Malaysia Development Bhd., would ask the Court of Appeal to take up their challenges against a deal reached with the Abu Dhabi-based International Petroleum Investment Co. and a subsidiary, Aabar Investments PJS.
The finance ministry and 1MDB agreed to pay IPIC and Aabar $1.2...
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