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After $20b award, sultan's heirs target Malaysian properties in Paris

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KUALA LUMPUR — French bailiffs attempted to enforce a seizure order on three Paris properties owned by the Malaysian government in a case linked to a US$15 billion (S$20 billion) court award to descendants of a former sultan, according to the heirs' lawyers and court documents seen by Reuters. The bailiffs tried to assess the properties on Monday (March 6)...

Jamalul Kiram III, a former Sultan of the Sulu region of the southern Philippines, sits surrounded by photographers during a brief news conference in front of the Blue Mosque in Taguig city, south of Manila on Feb 22, 2013.

Malaysia, which did not participate in the arbitration, maintains the process was illegal and has obtained a stay on the ruling in France. Unlike the embassy, they bore no official signage and were not subject to French tax exemptions, the judge said. Reuters could not establish if the bailiffs attempted to enter all three properties subject to the seizure order.

 

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After $20b award, sultan's heirs target Malaysian properties in ParisThe bailiffs tried to assess the properties following a court-issued seizure order in December. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »