[SINGAPORE] DBS “categorically rejects” a S$1.298 billion claim for damages in a lawsuit filed by several entities linked to the 1Malaysia Development Berhad (1MDB) scandal.
In a Wednesday (Sep 9) bourse filing, DBS said that a lawsuit has been filed against the bank by four entities under liquidation and the companies’ liquidators, Jason Aleksander Kardachi and Karnjote Singh S/O Jarmal Singh.
The four entities are:
- Affinity Equity International Partners;
- Blackrock Commodities (Global);
- Platinum Global Luxury Services; and
- TKIL Global Investments.
DBS said it “has consulted its legal advisers, and categorically rejects and will vigorously resist the claim”.
“It is a matter of public record that there have been global recovery…