1MDB served arbitration request by IPIC, Aabar
KUALA LUMPUR, June 17, 2016
Malaysia's state fund 1MDB said that it had been served on Friday with a request for arbitration by Abu Dhabi's International Petroleum Investment Company (IPIC) and Aabar Investments, in relation to its ongoing dispute with IPIC.
1Malaysia Development Berhad (1MDB) appointed Weil Gotshal & Manges to represent it in the dispute and will file a response to the request before the deadline of 11 July, it said in a statement.
IPIC has asked a London court to arbitrate in the dispute with 1MDB, in which it is claiming about $6.5 billion.-Reuters
