1MDB gets go-ahead to pursue Abu Dhabi’s IPIC in UK court

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1MDB’s lawyers say the ruling will allow the commercial court to fully scrutinise important aspects of the fraud, as part of an open and transparent process. (AP pic)LONDON: The Malaysian government was today given the go-ahead by a London judge to continue its pursuit against Abu Dhabi’s sovereign wealth fund for its role in the multibillion-dollar 1MDB scandal.Putrajaya challenged a 2017 arbitration settlement between the two sides in the UK, arguing that Abu Dhabi state-owned International Petroleum Investment Co (IPIC) and Aabar Investments were aware of fraud allegations against former prime minister Najib Razak at the time the deal was struck.Judge Andrew Baker granted an extension of time for the claim to be properly served to bring this “unusual” case to a full trial.“That is no doubt this is an exceptional length of extension to grant, but this is an exceptional case,…