KUALA LUMPUR, Sept 25 — Malaysia is in the process of obtaining an annulment of the purported final award of US$14.9 billion (RM62.59 billion) issued by a Spanish arbitrator, Dr...
KUALA LUMPUR, Sept 25 — Malaysia is in the process of obtaining an annulment of the purported final award of US$14.9 billion issued by a Spanish arbitrator, Dr Gonzalo Stampa in the case brought by the purported heirs of the Sulu Sultan, says Datuk Seri Azalina Othman Said.
“Malaysia has spent a lot of time, effort and resources to defend our nation from the frivolous claims in the Sulu fraud in Spain, France, Luxembourg and the Netherlands. Despite this predicament, Malaysia stressed that what we are experiencing in the Sulu fraud is not unique to Malaysia alone. “We did not have the opportunity to address this case when it began. If the unity government of today had that opportunity, we would have done things very differently.
“These achievements were made possible through the joint and concerted efforts of the relevant government Ministries and agencies under Prime Minister Datuk Seri Anwar Ibrahim who helmed efforts in international relations and diplomacy through fostering joint collaboration to address best practices in arbitration and third party litigation funding,” she said.
“We have the Asian International Arbitration Centre , a reputable global hub for dispute resolution, located in the heart of Kuala Lumpur. I am delighted to share that just last Thursday , the AIAC signed a Memorandum of Understanding with SOAS Arbitration and Dispute Resolution Centre, University of London to foster teaching and research activities related to alternative dispute resolution in alignment with international best practices.
On June 6, the Paris Court of Appeal upheld Malaysia’s challenge against the partial award rendered on May 25, 2020, by Stampa in the case filed by the eight individuals.
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