In a statement, the company’s board said its legal counsel are paid based on an agreed time cost rather than a commission or a percentage.

On Wednesday, 1MDB’s lead counsel, Rosli Dahlan, was reported to have filed a police report denying allegations that he received hefty payments and commission in a settlement by international bankers Goldman Sachs in a dispute with 1MDB.

He denied receiving RM283 million as legal fees, saying he charged “by the hour” and would only be paid after the full settlement.

On the settlement with Goldman Sachs, 1MDB said the US$2.5 billion cash payment as part of the US$3.9 billion deal has already been deposited into a trust account held by the Accountant General’s Department.

1MDB has also reached settlement agreements with AMMB Holdings Bhd for RM2.83 billion and Deloitte for RM324 million.

“All proceeds from the 1MDB’s asset recovery efforts including any future settlements have been or will be deposited into the trust account,” 1MDB’s board said.

1MDB added it still has RM32.3 billion of outstanding debt which include two US dollar-denominated bonds valued at RM27.3 billion which mature in 2022 and 2023, as well as a RM5 billion sukuk which will mature in 2039.

“Total of bonds/sukuk principal and coupon/profit to be paid till maturity are RM40.51 billion.

“1MDB will continue its recovery efforts to enable it to pay the bondholders and sukukholders upon maturity of these debt instruments.”