PETALING JAYA: Abu Dhabi’s International Petroleum Investment Co (IPIC) has dropped a lawsuit against Goldman Sachs Group Inc to recover losses suffered from the US investment bank’s dealings with 1MDB, Reuters reported, citing a court filing on Tuesday.
The lawsuit had alleged that Goldman conspired with unidentified people from Malaysia to bribe two former executives, Khadem Abdulla al-Qubaisi and Mohamed Ahmed Badawy al-Husseiny, to further their business at its expense.
Khadem Abdulla is the former IPIC managing director, and Ahmed Badawy former CEO of Aabar, an IPIC unit.
Reuters said Goldman Sachs did not immediately respond to a request for comment, while Abu Dhabi state fund Mubadala, which controls IPIC, could not be immediately reached.
Malaysia dropped criminal charges against three Goldman Sachs units in September after the bank agreed to pay US$3.9 billion to settle the probe.
Goldman Sachs had generated about US$600 million in fees for its work with 1MDB, which included three bond offerings in 2012 and 2013 that raised US$6.5 billion.
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