KUALA LUMPUR: PETRONAS maintains that the action taken by the Sulu claimants against its two subsidiaries in Luxembourg 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 (subsidiaries) have a meritorious defence," it said in a statement recently.
ALSO READ: PETRONAS units in Luxembourg seized again in RM66bil arbitration dispute
The statement referred to media reports on fresh seizure orders issued by Luxembourg court bailiffs for two units of the Malaysian state oil corporation this week.
A Reuters report on Thursday (Feb 16) titled "Petronas units in Luxembourg seized again in $15 billion arbitration dispute" stated that the bailiffs issued the fresh orders following a bid by descendants of a former sultanate to enforce a US$15bil (RM66bil) award they had won against Malaysia, according to the heirs' lawyer and court documents seen by the news agency. – Bernama
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