By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Marketing In Asia
  • Marketing
    • Viral
    • Expert Opinions
    • News & Trends
    • Research
    • Market Podcasts
    • Market Videos
    Marketing
    This category deals with best news and updates on marketing and branding news and events.
    Show More
    Top News
    Sangeeta Mudnal
    How conversational commerce benefits marketers
    2 months ago
    Andrew Monu, VP of Marketing, LinkedIn
    Marketing in Asia Presents an Exclusive Interview with Andrew Monu, VP of Marketing, LinkedIn
    3 months ago
    Ankita Thakur
    Marketing in Asia Presents an Exclusive Interview with Ankita Thakur, Group Head of Marketing, MoneyHero Group
    3 months ago
    Latest News
    Marketing in Asia Presents an Exclusive Interview with Cris Tan, Associate Director, Publisher Development (SEA)
    2 months ago
    Time for ASEAN to Rethink a Single Currency Amid Global Trade Tensions
    2 months ago
    Marketing in Asia Presents an Exclusive Interview with Carine Chin, Head of Corporate Marketing, Etiqa Insurance Singapore
    2 months ago
    Marketing in Asia Presents an Exclusive Interview with April Tayson, Regional VP INSEAU at Adjust
    2 months ago
  • Startup
    • News from Startup world
    • Startup Stories
    • Trends and Opinions
    • Startup Podcasts
    • Startup Videos
    Startup
    News and articles from startup and venture investment world
    Show More
    Top News
    Japan’s Evolving Booze Culture: A Market in Transformation
    Japan’s Evolving Booze Culture: A Market in Transformation
    10 months ago
    text
    Safe Space™ announces partnership with National Healthcare Group as it continues to boost employee support and wellbeing
    10 months ago
    Sakshi Kalani Founder & CEO of Savy Click and Jaipur Unfolded
    AI-Powered Analytics: Sakshi Kalani on Influencer Marketing in 2025
    11 months ago
    Latest News
    Byron J. Fernandez: Minimize the stress of business crises with strong CX
    8 months ago
    Vedant Mahajan Acquires Stake in Flite: Transforming Event Technology with Innovation
    8 months ago
    Navigating the Digital Economy and Tax Challenges for SMEs
    8 months ago
    sehatUP Launches India’s First Integrated Digital Health Clinic, Pioneering Holistic Healthcare
    9 months ago
  • Business
    • Feature Stories
    • News
    • Business Podcasts
    • Business Videos
    Business
    News and press releases from business world of Asia
    Show More
    Top News
    Andrew Monu, VP of Marketing, LinkedIn
    Marketing in Asia Presents an Exclusive Interview with Andrew Monu, VP of Marketing, LinkedIn
    3 months ago
    Ankita Thakur
    Marketing in Asia Presents an Exclusive Interview with Ankita Thakur, Group Head of Marketing, MoneyHero Group
    3 months ago
    Mary Reschar, Head of Product Marketing, Fluent Commerce
    How retailers can prepare for the rise of Gen Zalpha
    3 months ago
    Latest News
    Marketing in Asia Presents an Exclusive Interview with Cris Tan, Associate Director, Publisher Development (SEA)
    2 months ago
    Time for ASEAN to Rethink a Single Currency Amid Global Trade Tensions
    2 months ago
    Marketing in Asia Presents an Exclusive Interview with Carine Chin, Head of Corporate Marketing, Etiqa Insurance Singapore
    2 months ago
    Marketing in Asia Presents an Exclusive Interview with April Tayson, Regional VP INSEAU at Adjust
    2 months ago
  • Society
    • Inspiration
    • Destinations & Travel
    • Food & Gourmet
    • People
    • Young Voices
    • Society Videos
    • Society Podcasts
    Society
    News and articles from and for societies around us
    Show More
    Top News
    Smashers Sports Acquires Delhi Franchise of WPBL: A Game-Changer in India’s Sports Entertainment
    Smashers Sports Acquires Delhi Franchise of WPBL: A Game-Changer in India’s Sports Entertainment
    8 months ago
    Resorts World Cruises Sets Sail from Dubai with New Luxury Gulf Voyages
    Resorts World Cruises Sets Sail from Dubai with New Luxury Gulf Voyages
    9 months ago
    Australia luxury property
    Australia’s Luxury Real Estate Market Soars as Affluent Buyers Seek Waterfront Dreams
    9 months ago
    Latest News
    From Taboo to Triumph: How Malaysians Are Transforming Their Intimate Health Journey
    4 months ago
    Top 5 Misconceptions About Antibiotics Malaysians Need to Stop Believing
    5 months ago
    Eagle Eye Reveals Impact of Loyalty Programs on APAC Retailers
    5 months ago
    Elevate Your Haircare in 2025 with Jung Beauty’s Luxurious Camellia Edition Treatment
    7 months ago
  • Press Release
  • Awards
    • MIA Impact Circle Stellar CxO 2023 Malaysia
    • MIA Impact Circle Stellar CxO 2023 India
    • MIA Impact Circle Stellar CxO 2023 Philippines
    • Australian Women in Business Excellence Awards
    • MIA Impact Circle Stellar CxO 2024 Singapore
    • Mia Impact Circle Stellar Cxo 2024 Hongkong Award 
    • Mia Impact Circle Stellar Cxo 2024 Indonesia Award 
Search
Technology
  • Hot
  • Trending
  • Editor’s Choice
  • NSFW
  • Reactions
  • Authors
  • Viral on Internet
Other Pages
  • My Bookmarks
  • Customize Interests
  • About Marketing In Asia
  • Business Register & Login
  • Web Stories
  • Videos
  • Disclaimer
  • Terms of Service
  • Privacy Policy
© 2024 Marketing In Asia Sdn Bhd. All Rights Reserved.
Reading: Malaysia Stands Firm: Dutch Court to Rule on $14.9bn Sulu Heirs’ Claim on June 27
Share
Sign In
Notification Show More
Latest News
OH SOME Shop
Trendy Retail Brand OH!SOME Launches First Store in Thailand at Samyan Mitrtown – the New Go-To Hotspot in Bangkok
Press Release
Michael Komasinski_Criteo
Criteo Raises its 2025 Guidance Amid Solid Momentum in Performance and Retail Media in Q2 2025
Press Release
CPA Australia
CPA Australia welcomes tax reform debate but warns against burdening big business
Press Release
etiqa
Etiqa Insurance Singapore Relocates to New Office at Capital Square for Greater Accessibility and Growth
Press Release
Emma Robbins - Chief Creative Officer Melbourne M+C Saatchi
M+C Saatchi boosts creative leadership with Emma Robbins appointed CCO, Melbourne
Press Release
Aa
Marketing In Asia
Aa
  • Hot
  • Trending
  • Editor’s Choice
  • NSFW
  • Reactions
  • Authors
  • Viral on Internet
  • My Bookmarks
  • Customize Interests
  • About Marketing In Asia
  • Business Register & Login
  • Startup Register & Login
Search
  • Marketing
    • Viral
    • Expert Opinions
    • News & Trends
    • Research
    • Market Podcasts
    • Market Videos
  • Startup
    • News from Startup world
    • Startup Stories
    • Trends and Opinions
    • Startup Podcasts
    • Startup Videos
  • Business
    • Feature Stories
    • News
    • Business Podcasts
    • Business Videos
  • Society
    • Inspiration
    • Destinations & Travel
    • Food & Gourmet
    • People
    • Young Voices
    • Society Videos
    • Society Podcasts
  • Press Release
  • Awards
    • MIA Impact Circle Stellar CxO 2023 Malaysia
    • MIA Impact Circle Stellar CxO 2023 India
    • MIA Impact Circle Stellar CxO 2023 Philippines
    • Australian Women in Business Excellence Awards
    • MIA Impact Circle Stellar CxO 2024 Singapore
    • Mia Impact Circle Stellar Cxo 2024 Hongkong Award 
    • Mia Impact Circle Stellar Cxo 2024 Indonesia Award 
Have an existing account? Sign In
Follow US
© 2023 Marketing In Asia Sdn Bhd. All Rights Reserved.
Marketing In Asia > Blog > Business > News > Malaysia Stands Firm: Dutch Court to Rule on $14.9bn Sulu Heirs’ Claim on June 27
News

Malaysia Stands Firm: Dutch Court to Rule on $14.9bn Sulu Heirs’ Claim on June 27

profile
Last updated: 2024/07/24 at 9:55 PM
haidar bajrai
Share
3 Min Read
Malaysia
SHARE

Prime Minister Anwar Ibrahim declared that Malaysia anticipates decisions from the Dutch and Luxembourg courts concerning the so-called Sulu claimants’ push to impose an illegal arbitration award, known as the ‘Final Award,’ totalling $14.9 billion. He stated this whilst addressing the Dewan Rakyat. 

Anwar underscored that the Dutch Court of Appeal would announce its verdict on the ‘Final Award’s’ enforceability on June 27. This comes in the wake of Malaysia’s significant triumph at the Paris Court of Appeal on June 6, where the country’s objection against Gonzalo Stampa’s 2020 ‘partial award’ was upheld. The claimants had later aimed to implement the ‘Final Award’ that Stampa had awarded in France. 

Malaysia, Anwar said, will persist in safeguarding its sovereignty in all jurisdictions where the ‘Final Award’ is sought to be acknowledged and enforced, including the Netherlands, France, and Luxembourg. Despite the June 6 ruling favouring Malaysia, the government has been notified of the claimants’ intent to persist in their enforcement strategies in other countries. 

This manoeuvre, according to Anwar, constitutes an international court and arbitration process abuse. Anwar reaffirmed that Stampa lacked the authority to award any damages as the Madrid Superior Court of Justice had revoked his arbitrator role in June 2021. 

Also read: Breaking Stereotypes: The Imperative for Diverse Representation in Advertising 

In his assertion, Anwar stated that Stampa’s awards violate international public policy, particularly as they contravene diplomatic immunity, jurisdictional immunity, and sovereignty norms. He further disclosed the claimants’ attempt to impose the ‘Final Award’ in Luxembourg, which Malaysia has disputed in court, is pending Luxembourgian court instructions. 

Anwar reiterated that the government won’t shy away from taking legal action against anyone, including citizens who act against national interests by supporting the claimants directly or indirectly. He expressed the Malaysian government’s commitment to actively resolve this issue whilst preserving national sovereignty. 

The Sulu claimants, since 2020, have tried to confiscate Malaysian assets to enforce their $14.92 billion award. However, Malaysia has counteracted through court proceedings. Eight Philippine citizens, claiming to be Sulu sultanate’s heirs, initiated arbitration in Spain seeking billions from Malaysia over Sabah. 

In March 2019, a Madrid court appointed Stampa as the Sulu claimants’ arbitrator, only to annul this appointment in June 2021. Stampa, undeterred by Spain’s cancellation, shifted the arbitration venue to France and issued the ‘Final Award’ in February 2022, instructing Malaysia to pay $14.9 billion to the Sulu claimants. 

This news is based on the Malay Mail article.

You Might Also Like

Etiqa Insurance Singapore Relocates to New Office at Capital Square for Greater Accessibility and Growth

NTT DATA and Mistral AI to Shape Future of Sustainable and Secure Private AI for Enterprises

100 Young Changemakers Empowered to Drive Social Impact Across ASEAN in eYAA: Cohort 5

Adyen and Atlas partner to enable steady, scalable growth for Singapore’s F&B scene

Enterprises That Fall Behind in AI Race Risk $87 Million Annual Loss, Couchbase Survey Reveals

MIA
Get Latest Job Updates on Whatsapp and Telegram
SCIKEY Logo
Whatsapp
Telegram
TAGGED: arbitration, assets seizure, court decisions, diplomatic immunity, Dutch Court, Gonzalo Stampa, international public policy, jurisdictional immunity, Luxembourg court, malaysia, sovereignty, Sulu heirs

Sign Up For MIA Newsletter

Be keep up! Get the latest updates about the Marketing world delivered straight to your inbox.

    By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
    haidar bajrai July 24, 2024 June 15, 2023
    Share This Article
    Facebook Twitter LinkedIn Email Copy Link Print
    Share
    What do you think?
    Love0
    Happy0
    Joy0
    Surprise0
    Sad0
    Angry0
    Cry0
    profile
    By haidar bajrai
    Follow:
    With a strong sense of compassion and a desire to effect real change, I am a passionate and purpose-driven person committed to having a positive impact on the world. I am inspired by works that present fresh viewpoints and insights. Hence i engage with travelling and participating in outdoor activities to learn more about the world. Exposure to diverse cultures and environments fuels my capacity for creative problem-solving, which also broadens my perspective on life.
    Previous Article Beijing Boosts Fertility Efforts Beijing Boosts Fertility Efforts: Broadening Insurance to Cover Assisted Reproduction Techniques
    Next Article Google office Google’s AI Chatbot Bard’s EU Launch Delayed Amid Privacy Concerns 
    Leave a comment Leave a comment

    Leave a Reply Cancel reply

    You must be logged in to post a comment.

    9.5k Followers Follow
    3.4k Followers Like
    1.1k Followers Follow
    214 Followers Follow
    208 Subscribers Subscribe

    Latest News

    OH SOME Shop
    Trendy Retail Brand OH!SOME Launches First Store in Thailand at Samyan Mitrtown – the New Go-To Hotspot in Bangkok
    Press Release 2 days ago
    Michael Komasinski_Criteo
    Criteo Raises its 2025 Guidance Amid Solid Momentum in Performance and Retail Media in Q2 2025
    Press Release 2 days ago
    CPA Australia
    CPA Australia welcomes tax reform debate but warns against burdening big business
    Press Release 2 days ago
    etiqa
    Etiqa Insurance Singapore Relocates to New Office at Capital Square for Greater Accessibility and Growth
    Press Release 2 days ago

    PropertyGuru

    property guru

    You Might also Like

    etiqa
    Press Release

    Etiqa Insurance Singapore Relocates to New Office at Capital Square for Greater Accessibility and Growth

    2 days ago
    NTT DATA Mistral AI partnership
    Press Release

    NTT DATA and Mistral AI to Shape Future of Sustainable and Secure Private AI for Enterprises

    2 days ago
    Asean foundation
    Press Release

    100 Young Changemakers Empowered to Drive Social Impact Across ASEAN in eYAA: Cohort 5

    2 days ago

    Adyen and Atlas partner to enable steady, scalable growth for Singapore’s F&B scene

    2 days ago
    //

    Get Asia to Notice You

    Quick Link

    • Contact
    • RSS Terms of Service
    • Policies & Standards
    • About Us
    • FAQ
    • Disclaimer
    • Terms Of Service
    • Privacy Policy

    Top Categories

    • Marketing
    • Startup
    • Feature Stories
    • News
    • People
    • Inspiration

    Sign Up for Our Newsletter

    Subscribe to our newsletter to get our newest articles instantly!

      Marketing In AsiaMarketing In Asia
      Follow US
      © 2024 Marketing In Asia. All Rights Reserved.
      • Disclaimer
      • Terms of Service
      • Privacy Policy