Malaysia Can Restart Court Fight To Overturn $1.4B Deal

Law360, London (November 26, 2019, 2:30 PM GMT) -- Malaysia's government has won a temporary reprieve in its fight to overturn a controversial $1.4 billion settlement with a state-owned investment company in the United Arab Emirates, as an appeals court said Tuesday that the country's fraud accusations must be heard in London.

The Court of Appeal has ruled that Malaysia's finance ministry and the country's sovereign wealth fund, which has been hit by scandal, can restart legal proceedings as they challenge a settlement reached with Abu Dhabi-based International Petroleum Investment Co. and a subsidiary, Aabar Investments PJS.

A panel of judges lifted a stay on Malaysia's court case, which an English court had...

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