Court order to seize Petronas assets unenforceable, says Putrajaya

 

Law minister Wan Junaidi Tuanku Jaafar said the government would protect the country’s sovereignty.

PETALING JAYA: The court order to seize two Petronas assets is not enforceable, law minister Wan Junaidi Tuanku Jaafar said.

Yesterday, it was reported that the subsidiaries were seized by bailiffs after a French arbitration court ruled in March that Malaysia had to pay the descendants of the Sultan of Sulu at least RM62.59 billion.

The Financial Times reported that the seizure was part of legal efforts launched in 2017 by the heirs to receive compensation for land in Sabah that they said their ancestor leased to a British trading company in 1878.

The national oil company later confirmed that Petronas Azerbaijan (Shah Deniz) and Petronas South Caucasus had been served with a ‘Saisie-arret’ on July 11.

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It also said the seizure was “baseless” and was “working vigorously to defend its legal position on this matter.”

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