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Malaysia says has not dropped legal proceedings against Abu Dhabi's IPIC - Metro US

Malaysia says has not dropped legal proceedings against Abu Dhabi’s IPIC

A construction worker talks on the phone in front of a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia

KUALA LUMPUR (Reuters) – Malaysia on Tuesday said it has not stopped legal proceedings against Abu Dhabi sovereign wealth fund IPIC related to the multi-billion dollar scandal at 1Malaysia Development Berhad (1MDB), denying a report that the case was shelved.

The Malaysian government also remains open to considering all forms of resolution between the two parties, Attorney General Idrus Harun said in a statement, adding that talks are ongoing between the two.

Malaysia had filed a legal challenge in 2018 to a settlement agreement between 1MDB and IPIC negotiated during the premiership of former leader Najib Razak, who last week was found guilty of corruption in a 1MDB-related case.

(Reporting by Rozanna Latiff; Editing by Christian Schmollinger)

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