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September 30, 2022 @ 4:15pm
nister in the Prime Minister's Department (Parliament and Law) Datuk Seri Dr Wan Junaidi Tuanku Jaafar. -- NSTP FilePic
KUALA LUMPUR: Malaysia might be a proud signatory to the New York Convention but it will not tolerate or capitulate to those who cynically seek to manipulate and abuse the system for personal gain or profit.
Minister in the Prime Minister's Department (Parliament and Law) Datuk Seri Dr Wan Junaidi Tuanku Jaafar said this following the latest bid by the Sulu Sultanate heirs to seize Malaysian assets.
"To that end, Malaysia will spare no expense in defending its sovereignty and its assets abroad wherever they may be situated," he said in a statement here today.
He said that Malaysia has taken court proceedings in France and Spain to set aside and render null, once and for all, the award which he deemed impugned.
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"Malaysia is confident that these proceedings will be resolved in Malaysia's favour. Furthermore, Malaysia has initiated a global strategy to proactively resist and set aside any attempt by the purported Sulu heirs to seize or otherwise interfere with Malaysian assets abroad.
"In the meantime, Malaysia has instituted legal proceedings in Luxembourg and will take similar steps in the Netherlands to resist and set aside any attempt by the purported Sulu heirs to enforce or obtain a benefit from the impugned award."
Wan Junaidi said this while drawing on various reports that the heirs to the long defunct Sulu Sultanate have sought recognition and enforcement of what he deemed a questionable Final Award (the "impugned award") in the Dutch Courts against Malaysia's assets in the Netherlands.
Among companies and assets mentioned in the news reports were Petronas and assets linked to the company.
Wan Junaidi: Latest Sulu Sultanate heirs' bid to seize assets in breach of arbitration rules, norms
By Veena BabulalSeptember 30, 2022 @ 4:15pm
KUALA LUMPUR: Malaysia might be a proud signatory to the New York Convention but it will not tolerate or capitulate to those who cynically seek to manipulate and abuse the system for personal gain or profit.
Minister in the Prime Minister's Department (Parliament and Law) Datuk Seri Dr Wan Junaidi Tuanku Jaafar said this following the latest bid by the Sulu Sultanate heirs to seize Malaysian assets.
"To that end, Malaysia will spare no expense in defending its sovereignty and its assets abroad wherever they may be situated," he said in a statement here today.
He said that Malaysia has taken court proceedings in France and Spain to set aside and render null, once and for all, the award which he deemed impugned.
MORE NEWS
- Federal govt takes action at highest level over Sulu heirs' claims
- AG's Chambers 'looking into' reported seizure of Petronas assets seized by 'heirs' of Sulu Sultan [updated]
- Sulu claims: 1903 agreement removed any ambiguity
- Special task force to study claims by purported heirs of Sultan of Sulu
"Malaysia is confident that these proceedings will be resolved in Malaysia's favour. Furthermore, Malaysia has initiated a global strategy to proactively resist and set aside any attempt by the purported Sulu heirs to seize or otherwise interfere with Malaysian assets abroad.
"In the meantime, Malaysia has instituted legal proceedings in Luxembourg and will take similar steps in the Netherlands to resist and set aside any attempt by the purported Sulu heirs to enforce or obtain a benefit from the impugned award."
Wan Junaidi said this while drawing on various reports that the heirs to the long defunct Sulu Sultanate have sought recognition and enforcement of what he deemed a questionable Final Award (the "impugned award") in the Dutch Courts against Malaysia's assets in the Netherlands.
Among companies and assets mentioned in the news reports were Petronas and assets linked to the company.
