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Wednesday, 15 February 2017

Talks by UAE fund seeking $6.5 billion from 1MDB deadlocked: sources | Reuters

Talks by UAE fund seeking $6.5 billion from 1MDB deadlocked: sources | Reuters:

"Private talks in which Abu Dhabi state fund International Petroleum Investment Co (IPIC) is seeking $6.5 billion from Malaysia's troubled 1MDB fund have reached deadlock, sources familiar with the negotiations told Reuters. IPIC took its case to the London Court of International Arbitration (LCIA) last June but the two state-owned investment companies have been trying to thrash out a private settlement since then, the sources said. They have failed to bridge their differences, however, and may now leave the matter to the LCIA, the sources, who declined to be named, told Reuters."



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