Mubadala: No clue about 1MDB legal action

Abu Dhabi’s Mubadala said yesterday that it was neither aware of nor had been notified of a legal action challenging the outcome of arbitration in 2017 between Malaysian state fund 1MDB and Abu Dhabi’s International Petroleum Investment Co (IPIC).

“There remains in place a legally-binding settlement agreement that was agreed to by the arbitrating parties,” Mubadala, which Abu Dhabi merged with IPIC in January 2017, said. Malaysia yesterday said would file a legal challenge to a 2017 consent award granted to IPIC. (Reuters)