NEW YORK – The Malaysian government on Thursday denied allegations by Goldman Sachs that it had breached a settlement deal over the US bank’s role in theBut the parties are now in disagreement over the settlement.
Executives at the Wall Street firm had grown increasingly frustrated with the country’s demands to redo the existing 2020 pact in favour of more onerous penalties, and the lack of information tied to the looted assets that the nation has been recovering. Malaysia’s Attorney General Chambers said in a statement that the allegation of breaches mischaracterises the conduct of the government and it would prepare its response, adding that “the interest of the Malaysian people is paramount”.
The bank had requested several extensions to a deadline for discussions to settle the dispute, with the latest deadline coming up on Nov 8, he said.
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