US bankruptcy proceedings initiated against 1MDB-linked firms

Liquidators have initiated Chapter 15 bankruptcy proceedings in the US involving a slew of entities linked to the money trail of the embezzlement at 1MDB.

A total of nine entities have been named in the court filing made at the Florida Southern District Bankruptcy Court yesterday, including Brazen Sky Limited, Aabar Investments PJS Limited, and Tanore Finance Corporation.

“While the general details of the fraud...