DBS faces $1.3b lawsuit in alleged 1MDB-linked claim
DBS Bank is facing an estimated $1.3 billion damages lawsuit linked to the 1MDB scandal, DBS Group said on Sept. 9, according to Reuters.
The claimants include the liquidators of four companies: Blackrock Commodities (Global), Platinum Global Luxury Services, Affinity Equity International Partners and TKIL Global Investments. DBS rejected the claim, said it would fight it vigorously and added that it has made no provision for the lawsuit.
– With Reuters The Straits Times reports.