WASHINGTON: Liquidators of companies linked to the 1MDB scandal have filed for the companies to be placed under bankruptcy protection, as the liquidators look to recover assets.
A petition to place the companies under Chapter 15 of the US bankruptcy code was submitted in the Southern District of Florida court, dated Feb 15.
It listed 1MDB Energy Holdings Ltd, Platinum Global Luxury Services Ltd, Aabar International Investments PJS Ltd, Blackrock Commodities (Global) Ltd, and Alsen Chance Holdings Ltd, all registered in the British Virgin Islands.
The liquidators said the companies were subject to proceedings in the British Virgin Islands. The US petition was filed because the liquidators hoped to obtain information on the misappropriation of funds, according to the documents.
Malaysia’s 1MDB investment fund became the centre of a multibillion-dollar scandal that has spawned investigations around the world into deal-making, election spending and political patronage under former prime minister Najib Razak.
The filing said all five firms in question “acted as conduit for funds” from 1MDB to other entities and individuals. - FMT
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