UAE’s Ipic terminates financial support agreement with Malaysia’s 1MDB | The National:
"International Petroleum Investment Company (Ipic) said on Monday a June agreement to provide financial support to Malaysia’s 1MDB had been terminated after the troubled sovereign vehicle failed to meet obligations to the Abu Dhabi fund.
Ipic said in a bourse filing in London that the Malaysian state fund and the Asian country’s Ministry of Finance had failed to meet obligations including to pay $1.1 billion plus interest and was now in default.
While the obligations of Ipic and its subsidiary, Aabar Investments, under the June agreement had now been terminated, the Abu Dhabi fund still expected the Malaysian side to honour its commitments.
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