SINGAPORE (Nov 5): Malaysia is seeking to relieve itself from the obligation to pay the balance of the US$4.32 billion ($6 billion) to either International Petroleum Investment Co (IPIC) or Aabar Investments PJS by applying to the Courts of England for an order to set aside a Consent Award recorded on May 9, 2017 by an Arbitration Tribunal sitting in London.

It is also seeking the right to recover the US$1.46 billion already paid to IPIC and Aabar.

“The application will be filed today in the High Court in London,” Attorney-General Tommy Thomas said in a statement on Oct 30.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook