KUALA LUMPUR : Luxembourg court bailiffs issued fresh seizure orders for two units of Malaysian state oil firm Petronas this week, following a bid by descendants of a former sultanate to enforce a $15-billion award they had won against Malaysia, according to the heirs' lawyer and court documents seen by Reuters.
The Filipino heirs of the last Sultan of Sulu are seeking to enforce a $14.9-billion award granted to them by a French arbitration court last year, amid a long-running dispute with the Malaysian government over a colonial-era land deal.
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. On Tuesday, Luxembourg court bailiffs issued a second seizure order on the units and related bank accounts, court documents shared by the heirs' lawyer, Paul Cohen, showed.
"There was a technical ruling that has now been effectively dealt with, and the freezing orders are once more in place on the Petronas assets in Luxembourg," he said via email.
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