DBS Sued for US$1 Billion in 1MDB-Linked Claim

DBS sued for US$1bil by liquidators of 1MDB-linked firms

The Singapore banking group rejects the claim and says it will fight it 'vigorously'.

Singapore’s DBS sued for US$1 billion in alleged 1MDB-linked claim

Singapore’s DBS Bank is being sued for an estimated S$1.298 billion (US$1.03 billion) in damages linked to the multibillion-dollar 1MDB scandal, Southeast Asia’s largest lender DBS Group has said. The claimants include the liquidators of four companies: Blackrock Commodities (Global), Platinum ⁠Global Luxury Services, Affinity Equity International Partners and TKIL Global Investments. The ‌liquidators did not immediately respond to Reuters reque…

DBS sued for US$1 billion in 1MDB-linked claim

DBS rejected the claim and said it would fight it vigorously, adding that the company has made no provision for the lawsuit.

Liquidators of 1MDB-linked companies sue DBS for $1.3b

South-east Asia’s largest lender says it will fight the lawsuit vigorously. Read more at straitstimes.com.

DBS ‘categorically rejects’ S$1.3 billion claim by 1MDB-linked entities under liquidation

The bank has assessed that no provisions are required at this stage Read more at The Business Times.