Developer Sues AXA For Claiming 1MDB Links Void Policies

Law360, London (August 10, 2020, 7:03 PM BST) -- A London property developer has accused AXA of shirking a £3 million ($3.9 million) payout after the insurer claimed that Berkshire Assets' ties to a former Goldman Sachs banker caught up in the 1MDB scandal voided two of their policies.

Berkshire Assets (West London) Ltd. said the involvement of Michael Sherwood — once one of Goldman's most senior executives in Europe — in the company as one of three directors should play no part in the decision to provide insurance coverage for a residential development project in London.

According to the newly public July 20 High Court Suit, AXA has failed...

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