Singapore's court blocks foreign liquidators from suing banks over pre-2018 1MDB deals under new insolvency law.

Singapore's High Court has blocked foreign liquidators from suing Standard Chartered and BSI Bank over 1MDB-linked transactions, ruling that Singapore’s 2018 cross-border insolvency law cannot apply to deals before that date. The court cited a specific provision barring such claims for pre-2018 transactions, emphasizing Parliament’s intent to protect legal certainty. While liquidators may still pursue claims through traditional courts, the streamlined insolvency process is unavailable. The decision limits international recovery efforts tied to the multibillion-dollar scandal.