KUALA LUMPUR: Malaysian state energy firm Petronas on Thursday confirmed new seizure orders had been issued against two of its entities in Luxembourg and their parent, following a bid by descendants of a former sultanate to enforce a $15-billion arbitration award.
The action by the Filipino heirs of the last Sultan of Sulu is baseless, Petronas said in a statement, adding that it will continue to defend its legal position.
ALSO READ - Petronas units in Luxembourg seized again in $15 bln arbitration dispute
Reuters
Thu Feb 16 2023
Malaysian state energy firm Petronas today confirmed new seizure orders had been issued against two of its entities in Luxembourg. - PETRONAS
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