Malaysia's Petronas confirms new seizure orders on Luxembourg units

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.

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