KUALA LUMPUR - The government will respond to Goldman Sachs’ filing for arbitration against Malaysia in the 1Malaysia Development Bhd (1MDB) settlement dispute in accordance with the established legal frameworks while ensuring that the interest of the Malaysian people is safeguarded.
“The 1MDB Taskforce Committee is quite surprised at the conduct of Goldman Sachs as parties are still in good faith discussions to resolve any dispute amicably.
“However, in light of recent events, the government of Malaysia will be preparing to respond to this matter and ensuring that this process is done diligently and in accordance with the established legal frameworks while ensuring that the interest of the Malaysian people is safeguarded,” 1MDB Taskforce chairman (asset recovery) Datuk Seri Johari Abdul Ghani said in a statement in response to the news of the suit.
Bloomberg reported that Goldman Sachs Group Inc. is suing Malaysia in a United Kingdom court amid festering disagreement over a settlement tied to its role in the 1MDB investment-fund scandal.
“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,” the report quoted a spokesman for the New York-based bank as saying. - Bernama, October 12, 2023
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