Luxembourg court bailiffs issued fresh seizure orders for two units of Malaysian state oil firm Petronas (PETR.UL) this week, following a bid by descendants of a former sultanate to enforce a $15-billion award they had won against Malaysia, according to the heirs' lawyer and court documents seen by Reuters.
The Petronas Azerbaijan and Petronas South Caucasus units were first seized in July 2022, but the Malaysian government said last month that the order had beenOn Tuesday, Luxembourg court bailiffs issued a second seizure order on the units and related bank accounts, court documents shared by the heirs' lawyer, Paul Cohen, showed.
"There was a technical ruling that has now been effectively dealt with, and the freezing orders are once more in place on the Petronas assets in Luxembourg," he said via email.
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