Liquidators of companies linked to the 1Malaysia Development Bhd scandal have filed for chapter 15 under the U.S. Bankruptcy Code, as they look to recover assets, Bloomberg News reported. A petition listing 1MDB Energy Holdings Ltd, Platinum Global Luxury Services Ltd, Aabar International Investments PJS Ltd, Blackrock Commodities (Global) Ltd, and Alsen Chance Holdings Ltd — all registered in the British Virgin Islands — was submitted in the Southern District of Florida court, dated Feb. 15. Liquidators said that the companies were subject to proceedings in the British Virgin Islands and made the U.S. petition because they hope to obtain information on the misappropriation of funds, according to the documents. Malaysia’s 1MDB investment fund became the center of a multibillion-dollar scandal that has spawned investigations around the world into deal-making, election spending and political patronage under former Prime Minister Najib Razak. The filing said that all five firms in question “acted as conduit for funds” from 1MDB to other entities and individuals.
