The London Stock Exchange was informed this morning:
Following the announcement on 24 April 2017 of the conditional settlement reached between International Petroleum Investment Company PJSC (IPIC), Aabar Investments PJS (Aabar), the Minister of Finance (Incorporated) Malaysia (MoF Inc.) and 1Malaysia Development Berhad (1MDB), a consent award was made on 9 May 2017. Accordingly, the settlement in respect of the arbitration proceedings at the London Court of International Arbitration is now unconditional.
Malaysia's ruling UMNO has declared publicly that the settlement is intended to frustrate an ongoing US DOJ investigation into the multi-billion dollar theft from 1MDB.The state owned Straits Trimes of Singapore first reported the manoeuvre by Malaysia and Abu Dhabi,and later reported how a sham transaction will be used to effect the settlement.
The LCIA cannot claim ignorance of these reports, given the extent and sources of reporting on the matter.