PUTRAJAYA, Oct 12 — 1Malaysia Development Berhad (1MDB) is in talks with Deutsche Bank (Malaysia) Berhad to settle a lawsuit filed against the bank.

1MDB’s counsel, Datuk Lim Chee Wee, informed the Federal Court of the settlement talks during proceedings today before a three-member panel led by Chief Judge of Malaya Datuk Seri Hashim Hamzah.

The panel, comprising Chief Judge of Sabah and Sarawak Datuk Seri Azizah Nawawi and Federal Court Judge Datuk Ravinthran N. Paramaguru, was hearing 1MDB’s application for leave to appeal against a decision in favour of UK law firm White & Case LLP.

“We have already informed the High Court that there is a proposed settlement between our client (1MDB) and Deutsche Bank. The hearing for that case is scheduled for October 26 before High Court Judicial Commissioner Rihada Rafie,” Lim said.