Malaysia gets stay of mega-award as assets frozen in Luxembourg
Sandakan, a city in Sabah, Malaysia. The territory was once owned by the sultan of Sulu. (Credit: Shutterstock/Lano Lan)
A French court has granted Malaysia a stay of a US$15 billion award won by heirs to a sultanate on the island of Borneo after finding its enforcement could infringe on the country’s sovereignty – as the heirs secure an attachment over Luxembourg subsidiaries of the Malaysian national oil company.
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