Govt is not halting court proceedings against IPIC in London - AG

The Attorney-General's Chambers has confirmed that no action has been taken to halt the court proceedings in London to cancel the 2017 settlement agreement between 1Malaysia Development Berhad (1MDB) and Abu Dhabi's International Petroleum Investment Company (IPIC).

Attorney-General Tan Sri Idrus Harun said the government is always open to considering any resolution to ensure that the country's assets are returned and justice is upheld.

"Discussions are constantly held between the two countries (Malaysia and United Arab Emirates (UAE)), and that this has been the case with the previous and current governments.

"The discussions involve only officials from the Malaysian and UAE governments and no other parties," he said in a statement here today.

The Sarawak Report has recently reported that the Malaysian Government has taken legal action to halt the court proceedings against IPIC in favour of diplomatic negotiations with UAE government, with the 1MDB and Ministry of Finance Ministry were said to be making efforts for another settlement.

The court proceedings were taken to cancel the Settlement Agreement between 1MDB and IPIC which was entered in 2017 in regard to the 1MDB financial scandal.

-- BERNAMA