AXA Escapes Claim For £3M Over Exec Tied To 1MDB Scandal

By Silvia Martelli (October 13, 2021, 3:43 PM BST) -- A judge has rejected a London property developer's attempt to force AXA to cover water damage, ruling that the policy was void because the builder should have disclosed that its director was a former Goldman Sachs executive involved in the 1MDB scandal.

AXA Insurance UK PLC would have not offered cover to Berkshire Assets (West London) Ltd. if the developer had disclosed that one of its directors was facing criminal charges for arranging bond sales for the Malaysian state fund — which has been tarnished by scandal — Lionel Persey QC, sitting as a judge at the High Court, ruled in...

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