Last week, writs of seizure were issued against two Luxembourg-based units of Petronas, which described the seizure as “baseless” and that the companies had divested their assets.
Paul Cohen, the heirs’ lead co-counsel, told Reuters that the stay applied only to France and not the other countries who are signatories to a New York convention on arbitration.
The Sulu heirs are seeking to enforce an award of 英超 US$14.9 billion as compensation for ceding Sabah, now part of Malaysia.
The Sulu heir’s lawyers said the companies were now under the control of bailiffs in Luxembourg, pending any appeal by Petronas, Reuters reported.
However, Malaysian authorities said the arbitration award had been held to be invalid and could not be enforced as it infringes on the country’s sovereignty.
KUALA LUMPUR: Lawyers for the heirs of the Sulu sultanate claim that Malaysian assets in 169 countr NBA直播 ies are still at risk of being seized despite a stay ordered by a French court.
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The lawyers claimed that an arbitration award handed down in February in F 英超直播 rance was valid in all signatory countries.
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