Minister of Finance (Incorporated) And 1MDB v. Abu Dhabi Investment Companies, IPIC And Aabar PJS

Eversheds Sutherland acted for Minister of Finance (Incorporated) and 1MDB against Abu Dhabi investment companies, IPIC and Aabar PJS.

The Minister of Finance (Incorporated) and 1MDB’s Commercial Court challenge, which will consider whether an LCIA arbitration was used by the former Prime Minister of Malaysia to help conceal a multi-billion dollar fraud, will go ahead following a significant win for Malaysia’s government.

The Court of Appeal overturned the decision of the High Court which had decided that an application under sections 67 and 68 of the Arbitration Act 1996, brought by Minister of Finance (Incorporated) and 1MDB to help recover the misappropriated funds, should be stayed pending the resolution of arbitration proceedings brought by IPIC and Aabar PJS, two Abu Dhabi-owned investment companies.

The Minister of Finance (Incorporated) and 1MDB were represented by Toby Landau QC, Peter Webster and Joseph Sullivan.

The Eversheds Sutherland team, led by Richard Little (Picture), included Associates Michael Armstrong, Margrit Trein and Dan Younger.

Involved fees earner: Michael Armstrong – Eversheds Sutherland; Richard Little – Eversheds Sutherland; Margrit Trein – Eversheds Sutherland; Dan Younger – Eversheds Sutherland;

Law Firms: Eversheds Sutherland;

Clients: 1MBD – 1Malaysia Development Berhad; Minister of Finance (Incorporated);

Print Friendly, PDF & Email