Standard Chartered Faces Fresh 1MDB Claims as $1.5 Billion Buyback Nears the $1 Billion Mark
Standard Chartered PLC is back in the 1MDB legal fight. On Friday, liquidators pointed to a Singapore High Court decision they say clears the way for new statutory claims against the bank’s Singapore unit. The case centers on three British Virgin Islands entities tied to the massive Malaysian fund scandal. Timing isn’t on Standard Chartered’s side. The London-listed lender is in the middle of a $1.5 billion buyback, just as investors are eyeing banks with exposure to Asia and the Middle East to see if they’ll have to shoulder higher credit costs from the Iran conflict.