Singapore's High Court has dismissed an attempt by foreign liquidators to take legal action against Standard Chartered and BSI Bank over alleged ties to the controversial 1MDB scandal, a decision revealed in a judgment on Wednesday.

The foreign liquidators involved in the case claimed the transactions were linked to the scandal-ridden Malaysian sovereign wealth fund, 1MDB. However, the High Court found insufficient grounds for the case to proceed against the two banks.

Efforts to reach the liquidators for comment on the judgment were unsuccessful, as representatives did not immediately respond to requests.

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