Goldman Sachs has sued the Malaysian government due to a dispute over the settlement of the multi-billion dollar 1MDB corruption scandal.
According to a Bloomberg report, the bank filed a lawsuit in the London Court of International Arbitration yesterday (11 October). "We filed for arbitration against the Government of Malaysia for violating its obligations to appropriately credit assets against the guarantee provided by Goldman Sachs in our settlement agreement and to recover other assets," a Goldman Sachs spokesperson told Bloomberg. Goldman Sachs fined by FCA and PRA over 1MDB in $2.9bn global resolution In 2020, Goldman Sachs agreed to pay the Malaysian government $2.5bn in settlement for its involvement in the ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
