Kuala Lumpur: Petronas maintains that the action taken by the Sulu claimants against its two subsidiaries in Luxembourg (Luxcos) is baseless and will continue to defend its legal position.
“All efforts are focused on the validation proceedings where the court will determine the merits of the claims of which the Luxcos have a meritorious defence,” it said in a statement today.
The statement was referring to media reports yesterday on a fresh seizure order issued by Luxembourg court bailiffs for two units of Petronas this week.
The Reuters report on Thursday, titled, “Petronas units in Luxembourg seized again in US$15 billion arbitration dispute”, stated that Luxembourg court bailiffs issued fresh seizure orders for two units of Petronas, following a bid by descendants of a former sultanate to enforce a US$15 billion (RM66 billion) award they had won against Malaysia, according to the heirs’ lawyer and court documents seen by Reuters.
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