
“All efforts are focused on the validation proceedings where the court will determine the merits of the claims of which the Luxcos have a meritorious defence,” it said in a statement today.
The statement was referring to media reports yesterday on a fresh seizure order issued by Luxembourg court bailiffs for two units of Petronas this week.
The Reuters report on Thursday, titled, “Petronas units in Luxembourg seized again in US$15 billion arbitration dispute”, stated that Luxembourg court bailiffs issued fresh seizure orders for two units of Petronas, following a bid by descendants of a former sultanate to enforce a US$15 billion (RM66 billion) award they had won against Malaysia, according to the heirs’ lawyer and court documents seen by Reuters.