Paris Court of Appeal favours Malaysia, sets aside award to Sulu heirs

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Paris Court of Appeal favours Malaysia, sets aside award to Sulu heirs
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The Thai media company that owns the Miss Universe beauty pageant brand said on Thursday it has filed for bankruptcy while it tries to resolve a 'liquidity problem'.

KOTA KINABALU: Malaysia has won the battle to set aside a Paris Arbitration Court's purported award of US$14.94bil to the self-claimed heirs of the defunct Sulu Sultanate.

"Malaysian assets are safe; they cannot enforce his award, which has been set aside," said Fuad, who is an attorney for the state government. Stampa, who ignored a decision by a court in Spain to stop the Sulu arbitration case in Madrid in 2020, had moved his arbitration to Paris where he awarded the US$14.94bil to the Sulu claimants.

Malaysia ’s position that the purported commercial arbitration instituted by the Sulu claimants was without legitimate basis.

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