(Bloomberg) -- Singapore’s High Court has stopped foreign liquidators from suing Standard Chartered Plc and BSI Bank Ltd. over transactions allegedly linked to the Malaysian sovereign wealth fund 1Malaysia Development Bhd. “The outcome does leave the applicants without easy recourse against the respondents, in respect of apparently dubious transactions,” the city-state’s court said in a judgment last week.  A Standard Chartered spokesperson said the bank welcomed the court’s decision. Liquidators began ...

Group 1 - Standard Chartered is facing a lawsuit in Singapore filed by liquidators seeking to recover funds from Malaysia's sovereign wealth fund, 1Malaysia Development Berhad (1MDB) [1][2] - The lawsuit alleges that Standard Chartered enabled fraud against 1MDB over a decade ago, with the financial services firm Kroll aiming to recover $4.5 billion stolen from 1MDB between 2009 and 2014 [2][3] - Kroll claims that Standard Chartered allowed over 100 intrabank transfers that concealed the movement of stolen funds, ignoring significant warning signs [3] Group 2 - Standard Chartered has rejected the claims and stated that it will vigorously defend against the lawsuit, asserting that the claims are without merit [4] - The U.S. Department of Justice previously filed lawsuits related to a multibillion-dollar international money-laundering scandal involving 1MDB, alleging misappropriation of over $3.5 billion by high-level officials [5][6] - In December 2016, the Monetary Authority of Singapore fined Standard Chartered 5.2 million Singapore dollars (approximately $3.5 million) for lapses in anti-money laundering procedures [7]