UAE's IPIC takes Malaysia fund dispute to London court, seeks $6.5 billion | Reuters:
"Abu Dhabi's state-owned International Petroleum Investment Co (IPIC) asked a London court to arbitrate in a dispute with Malaysian state fund 1MDB, in which it is claiming about $6.5 billion, IPIC said on Tuesday.
The submission to the London Court of International Arbitration alleges that 1MDB and Malaysia's finance ministry failed to perform their obligations under a debt restructuring agreement involving the companies last June.
Malaysia's finance ministry dissolved 1MDB's board of advisers and took over its remaining assets last month. The fund is the subject of money-laundering investigations in at least six countries."
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