KUALA LUMPUR — Heirs of a late Southeast Asian sultan on Thursday asked a Dutch court for permission to seize Malaysian assets in the Netherlands, their lawyer said, seeking enforcement of a US$15 billion arbitration award granted to them against Malaysia's government.
A French arbitration court in February ordered Malaysia to pay the US$15 billion sum — the second largest arbitration award on record — to the descendents of the last Sultan of Sulu. The heirs wish to take"recourse against assets of Malaysia, which are located in the Netherlands", according to a copy of the court petition shared by their lawyer."This filing in the Netherlands will soon be followed by other enforcement actions, of varying types, in multiple jurisdictions," said lawyer Paul Cohen, a lead co-counsel for the sultan's heirs from British law firm 4-5 Gray's Inn Square.