Standard Chartered will face a trial in Singapore over its alleged role in the 1MDB scandal after the bank's appeal to dismiss the case was rejected.
The ruling, handed down on June 30, upholds a November 2025 High Court decision that denied the bank's application to strike out the action brought by 1MDB liquidators.
The lawsuit, commenced in 2025, centers on the bank's handling of transactions linked to the massive fund diversion from the Malaysian sovereign wealth fund.
With the appeal dismissed, the case moves forward to a full trial, marking a significant escalation in the legal fallout for the UK-based lender.
The development underscores the persistent legal risks facing global banks with historical ties to the 1MDB scandal, which has resulted in billions of dollars in fines and settlements for various financial institutions.
Investors will be watching for any immediate impact on Standard Chartered's share price and potential provisions for legal costs.