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1MDB Unit Brazen Sky Files for Bankruptcy Protection in US (1)

Sept. 1, 2022, 7:46 AM

A unit of Malaysia’s state-owned investment fund 1MDB -- which has spurred investigations around the world into deal-making and political patronage under former Prime Minister Najib Razak -- is seeking bankruptcy protection in the US.

Brazen Sky Ltd., which is fully owned by 1Malaysia Development Bhd., filed for Chapter 15 in Southern District of Florida court, according to a filing.

The document listed voluntary liquidation pending in the British Virgin Islands, where Brazen Sky is incorporated. Debtors may seek orders under Chapter 15 in the US to have foreign proceedings enforced there.

The development comes just days after Najib was ...