The 1MDB taskforce chairman says Malaysia will respond to Goldman Sach’s move to pursue arbitration against the government over the 1MDB settlement.
1MDB taskforce chairman Johari Ghani said Goldman Sachs’ move to pursue arbitration over the 1MDB settlement is an attempt to divert attention from its obligations to the government.
PETALING JAYA: 1MDB taskforce chairman Johari Ghani has labelled Goldman Sachs’ action in pursuing arbitration against the government over a 1MDB settlement entered three years ago as “premature” and “without due consideration of the necessary prerequisites”. “However, in light of recent events, the government of Malaysia will be preparing to respond to this matter and ensuring that this process is done diligently and in accordance with the established legal frameworks while ensuring that the interest of the Malaysian people is safeguarded,” he said in a statement.
Yesterday, Reuters reported that the investment bank had taken the “unusual step” of commencing arbitration proceedings in a UK court “amid festering disagreement over a settlement tied to its role in the 1MDB scandal”. Johari denounced Goldman Sachs’ move as “attempt to detract and divert attention away” from its obligation to make an interim payment to the government of US$250 million under the settlement agreement entered
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