KUALA LUMPUR, Feb 17 (Bernama) — Malaysia has not received any formal notice on a purported attachment of assets attempted in Luxembourg by the Sulu self-styled heirs against Malaysia and Petronas, an independent corporation.
Law and Institutional Reform Minister Datuk Seri Azalina Othman Said said therefore, her office was unable to confirm the correctness or accurateness on that matter.
“If they prove to be true, this would not be the first time that the purported “Sulu heirs” attempt to seize Malaysia’s assets in Luxembourg on the basis of a purported final award rendered by Spanish lawyer whose appointment as arbitrator was nullified by the same court that had initially appointed him without hearing Malaysia.
“Rather, this alleged new attempt to attach assets would follow a first and failed attachment, which was recently lifted by the Luxembourg courts,” she said in a statement here, today.
A Reuters report on Thursday (Feb 16) titled, “Petronas units in Luxembourg seized again in US$15 billion arbitration dispute” stated that Luxembourg court bailiffs had 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 US$15-billion (US$1 = RM4.42) award they had won against Malaysia, according to the heirs’ lawyer and court documents seen by Reuters.
Azalina said, if the reports were indeed true, Malaysia will continue to defend its rights vigorously before the courts in order to ensure that this second attachment (if existent) is also promptly lifted by the Luxembourg courts just as the first attachment was lifted.
“We remind the public once again that the purported heirs and their counsels are trying to distort the truth before the media, just as they have done before the courts,” she said.
Azalina said this case concerns a genuine arbitral scandal that has undermined the two most fundamental institutions of the rule of law, respecting the law and obeying the courts, and Malaysia will spare no effort in defending its rights.
Earlier Petronas maintained that the action taken by the Sulu claimants against its two subsidiaries in Luxembourg (Luxcos) was baseless and will continue to defend its legal position.
Source: BERNAMA News Agency