Wednesday 31, October 2018 by Kudakwashe

Mubadala unaware of any legal action over 1MDB settlement


This follows Malaysia’s attorney general’s announcement that the Asian nation would file a legal challenge to a 2017 consent award granted to International Petroleum Investment Company (IPIC).

Mubadala has said that it is 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 IPIC.

In a statement, Mubadala stated that there remains in place a legally-binding settlement agreement that was agreed to by the arbitrating parties.

Mubadala Development Company and International Petroleum Investment Company (IPIC) merged in 2017 to form Mubadala Investment Company.

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