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Abu Dhabi has given 1MDB until Aug 31 to make a $603 million debt settlement payment that was due on Tuesday, according to Reuters, which quoted an Abu Dhabi based source with knowledge of the matter.
Under an agreement struck in April with the Abu Dhabi state fund International Petroleum Investment Company (IPIC) to settle arbitration proceedings, scandal-hit 1MDB fund agreed to pay $1.2 billion in two instalments to IPIC, with the first of about $600 million to be paid by July 31.
Under an agreement struck in April with the Abu Dhabi state fund International Petroleum Investment Company (IPIC) to settle arbitration proceedings, scandal-hit 1MDB fund agreed to pay $1.2 billion in two instalments to IPIC, with the first of about $600 million to be paid by July 31.
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