Goldman Sachs sues Malaysia over dispute on recovering 1MDB assets

Goldman Sachs filed arbitration proceedings against Malaysia over claims the country has not appropriately recovered and credited 1MDB assets as agreed in a 2020 settlement deal.
The bank is seeking to recover assets and credits it argues were not properly accounted for under the terms of the settlement agreement.
Malaysia claims the legal action is premature with settlement discussions still ongoing and accuses Goldman of trying to divert attention.
The 1MDB scandal involved the misappropriation of billions of dollars from the Malaysian sovereign wealth fund.
Goldman Sachs paid Malaysia $2.5 billion in 2020 to resolve criminal charges over its role in underwriting 1MDB bond deals.