2 Petronas subsidiaries reportedly seized by Sulu sultan’s heirs

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PETALING JAYA: Two Petronas subsidiaries in Azerbaijan have reportedly been seized by bailiffs after a French arbitration court ruled in March that Malaysia has to pay the descendants of the sultan of Sulu at least RM62.59 billion.

The Financial Times reported that the move to seize Petronas’ Luxembourg-registered subsidiaries, Petronas Azerbaijan (Shah Deniz) and Petronas South Caucasus, is part of legal efforts launched in 2017 by the heirs to receive compensation over land in Sabah they said their ancestor leased to a British trading company in 1878.

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