Two Petronas subsidiaries in Azerbaijan have been seized by bailiffs, according to a report in the Financial Times. – The Malaysian Insight file pic, July 12, 2022.
BAILIFFS in Azerbaijan have seized two Luxembourg-registered Petronas subsidiaries in an ongoing dispute between heirs of the Sulu sultanate and the government of Malaysia. According to a report in the Financial Times, bailiffs took over the offices of Petronas Azerbaijan and Petronas South Caucasus – with estimated net worth of nearly RM9 billion – as part of an ongoing dispute between the heirs and the government.
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