The London International Arbitration Court has granted a consent award in the arbitration between 1MDB and Abu Dhabi's International Petroleum Investment Company (IPIC).

The consent award, in the context of Malaysian law, is akin to the court acknowledging that the disputing parties are opting for an out-of-court settlement.

IPIC, in a filing with the London Stock Exchange today, revealed that the consent award was granted on Tuesday...