Goldman Sachs vs Malaysia: Govt to respond accordingly, safeguard Malaysia's interest, says Johari Ghani

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Goldman Sachs vs Malaysia: Govt to respond accordingly, safeguard Malaysia's interest, says Johari Ghani
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KUALA LUMPUR: The government will respond to Goldman Sachs’ filing for arbitration against Malaysia in the 1Malaysia Development Bhd settlement dispute in accordance with the established legal frameworks while ensuring that the interest of the Malaysian people is safeguarded.

Bloomberg reported that Goldman Sachs Group Inc is suing Malaysia in a United Kingdom court amid festering disagreement over a settlement tied to its role in the 1MDB investment-fund scandal. The Goldman Sachs Settlement Agreement was signed on Aug 18, 2020, consisting of two parts -- cash payment of US$2.5bil paid 10 days from the signing of the settlement agreement and asset recovery guarantee of US$1.4bil by Goldman Sachs within five years from the date of the settlement agreement.

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