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1MDB gets go-ahead to pursue Abu Dhabi's Ipic, Aabar in UK court

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NEW YORK (Bloomberg): Malaysia was given the go-ahead by a London judge to continue its pursuit against Abu Dhabi’s sovereign wealth fund for its role in the multi billion-dollar 1MDB scandal.

Malaysia’s government challenged a 2017 arbitration settlement between the two sides in the UK, arguing that Abu Dhabi state-owned International Petroleum Investment Co. and Aabar Investments were aware of fraud allegations against former prime minister Datuk Seri Najib Razak at the time the deal was struck.

"That is no doubt an exceptional length of extension to grant, but this is an exceptional case,” he said. The London case is one of a series of legal and regulatory probes around the world, including the US and Malaysia, surrounding 1MDB.

 

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