SINGAPORE, July 1 -- Singapore's High Court has upheld a lower court's decision refusing to strike out a US$2.7 billion (RM11 billion) lawsuit against Standard Chartered Bank (Singapore) Limited over its alleged role in the 1MDB scandal, allowing the case to proceed to trial.

The ruling, delivered yesterday, dismisses the bank's appeal against an earlier decision refusing to throw out the suit at a preliminary stage. It does not determine the merits of the allegations, which will instead be examined at trial.

The claim was brought by the court-appointed liquidators of three British Virgin Islands companies - Alsen Chance Holdings Limited, Blackstone Asia Real Estate Partners Limited and Brightstone Jewellery Limited - which they allege ...