“We filed for arbitration against the Government of Malaysia for violating its obligations to appropriately credit assets against the guarantee provided by Goldman Sachs in our settlement agreement and to recover other assets,” a spokesman for the New York-based bank said in an emailed statement.
Goldman Sachs Group Inc. took the unusual step of suing Malaysia in a UK court amid festering disagreement over a settlement tied to its role in the 1MDB investment-fund scandal.
Executives at the Wall Street firm have grown increasingly frustrated with the country’s demands to redo its existing 2020 pact in favour of more onerous penalties, and the lack of information tied to the looted assets the nation has been recovering.
