Malaysia's 1MDB says its been served arbitration request by Ipic, Aabar
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[KUALA LUMPUR] Malaysia's state fund 1MDB said that it had been served on Friday with a request for arbitration by Abu Dhabi's International Petroleum Investment Company (Ipic) and Aabar Investments PJS, in relation to its ongoing dispute with Ipic.
1Malaysia Development Berhad (1MDB) appointed Weil Gotshal & Manges to represent it in the dispute and will file a response to the request before the deadline of 11 July, it said in a statement.
Ipic has asked a London court to arbitrate in the dispute with 1MDB, in which it is claiming about US$6.5 billion.
REUTERS
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