1MDB lawsuit against Standard Chartered to proceed to trial in Singapore
A Singapore High Court has ruled that a $2.7 billion lawsuit against Standard Chartered Bank regarding the 1MDB scandal will proceed to trial. The bank's attempt to strike out the suit was dismissed, and it now intends to seek permission for further appeals.
Why it matters
This is a significant development in the long-running legal efforts to recover assets misappropriated during the 1MDB financial fraud.
SINGAPORE (Bernama): A lawsuit against Standard Chartered Bank over its alleged role in the 1Malaysia Development Bhd (1MDB) scandal will proceed to trial in Singapore following a court order.
The report provides a factual account of court proceedings and legal filings without editorializing.
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