KUALA LUMPUR - Luxembourg court bailiffs issued fresh seizure orders for two units of Malaysian state oil firm Petronas this week. It followed a bid by descendants of a former sultanate to enforce a US$15 billion (S$20 billion) award they had won against Malaysia, according to the heirs’ lawyer and court documents seen by Reuters. The Filipino heirs of the...
Petronas logos are pictured at a fuel station in Kuala Lumpur, Malaysia, on Sept 4, 2020.KUALA LUMPUR - Luxembourg court bailiffs issued fresh seizure orders for two units of Malaysian state oil firm Petronas this week.
Petronas has said it will contest any claims made on its assets and Malaysia has vowed to use all legal measures to prevent its assets, including state-linked companies, from being seized overseas.But the Malaysian government said in January that the order had been set aside by a Luxembourg district court.
The Luxembourg court could not be immediately reached for comment. Petronas and Malaysia’s law minister did not respond to requests for comment.
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