KUALA LUMPUR (May 15): The Singapore High Court has allowed the winding-up of several British Virgin Islands (BVI) entities linked to the 1Malaysia Development Bhd (1MDB) scandal, enabling liquidators to pursue statutory claims against Standard Chartered Bank Singapore and BSI Singapore in Singapore.
In a statement on Friday, Angela Barkhouse and Toni Shukla, joint liquidators of certain BVI entities, said the Singapore Court’s latest decision will allow the court-appointed liquidators to hold those who facilitated fraudulent acts against the companies fully to account.
They said with the local winding-up orders granted, relevant statutory claims against Standard Chartered Bank Singapore and BSI Singapore will be filed in short…