Singapore Stops 1MDB Liquidators Suing StanChart, BSI Bank (1)

Singapore’s High Court has stopped foreign liquidators from suing Standard Chartered Plc and BSI Bank Ltd. over transactions allegedly linked to the Malaysian sovereign wealth fund 1Malaysia Development Bhd.

“The outcome does leave the applicants without easy recourse against the respondents, in respect of apparently dubious transactions,” the city-state’s court said in a judgment last week.

A Standard Chartered spokesperson said the bank welcomed the court’s decision.

Liquidators began legal proceedings against the London-headquartered bank in Singapore, according to a statement from July, with the claimants alleging Standard Chartered permitted more than 100 intrabank transfers between 2009 and 2013 ...