KUALA LUMPUR: 1Malaysia Development Berhad (1MDB) has confirmed that it was served on Friday with a Request for Arbitration (RFA) dated 13 June 2016 by the Abu Dhabi-based International Petroleum Investment Company (IPIC) and Aabar Investments PJS (Aabar), “in relation to an ongoing dispute” with the latter two parties.
“1MDB will file a robust Response to the RFA, on or before the deadline of 11 July 2016, as stipulated by the London Court of International Arbitration,” said the company in a statement.
1MDB added that it was confident of its legal position.
The statement further said that the company had appointed Weil Gotshal & Manges (Weil Gotshal) to represent it in the dispute.
Weil Gotshal, according to 1MDB, was a globally renowned, top tier law firm, specializing in, amongst others, international litigation.