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Liquidators of 9 BVI & Cayman entities ‘involved in $8.5B 1MDB fraud’ apply for Chapter 15 recognition in U.S.

The liquidators of eight entities in the British Virgin Islands and one in the Cayman Islands that were allegedly used to misappropriate and launder some of the proceeds of an $8.5 billion fraud involving Malaysia's 1MDB have applied for Chapter 15 recognition in the United States.