by Ganesh Sahathevan
As reported by The Star:
1MDB said on Monday that as per the settlement, 1MDB will, amongst others, make certain payments to IPIC and will assume responsibility for all future interest and principal payments for two bonds issued by 1MDB Group companies due in 2022.
“These obligations will be met by 1MDB, primarily via monetisation of 1MDB-owned investment fund units.
“1MDB is pleased to confirm that a first tranche monetisation of approximately US$50mil has been received, in cash.
“This arbitration settlement and monetisation of investment fund units represents the resolution of a significant challenge, and is a major part of the 1MDB rationalisation plan, which is now at its final stages of conclusion,” it said.
and second tranche of payments of IPIC.
This matter has been made public since at least last Friday,and IPIC has not refuted any of the claims made by 1MDB,and in media quoting sources close to the the settlement negotiations.IPIC does however admit to receiving funds from 1MDB, which 1MDB says are from IPIC guaranteed "units".IPIC cannot now claim not to be part of the ongoing 1MDB money laundering.
The evidence against IPIC includes the 1MDB financial statements audited and signed-off by Delloites.