Petroleum Company Seeks $6.5M In Arbitration With Malaysian Development Firm

(June 14, 2016, 11:48 AM EDT) -- LONDON — A United Arab Emirates petroleum company on June 14 announced that it has filed a request for arbitration with a London court against two Malaysian entities, seeking $6.5 million in damages.

Request For Arbitration

International Petroleum Investment Co. PJSC (IPIC) and Aabar Investments PJS said in a news release that they have submitted a request for arbitration (RFA) to the London Court of International Arbitration (LCIA). The IPIC and Aabar allege that 1Malaysia Development Berhad (1MDB) and Minister of Finance Inc. Malaysia (MOF) failed...
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