Arbitration analysis: Following a territorial dispute with the alleged heirs of the last Sultan of Sulu against Malaysia based on an 1878 agreement, controversial Spanish arbitrator Dr Gonzalo Stampa awarded claimants a compensation of US$14.92bn. Since then, the supposed heirs have unsuccessfully persisted in their enormous efforts, fuelled by British litigation funder Therium, to seize Malaysian government properties in France, the Netherlands and Luxemburg, mainly targeting assets of the state-owned energy company Petronas. The last piece on this particular arbitral domino toppling fell on 27 June 2023, when The Hague Court of Appeal declined to enforce the US$14.9bn award against Malaysia. This decision comes shortly after the recent ruling by the Paris Court of Appeal also denying the enforcement of a preliminary arbitral award issued by Dr Stampa. Written by Josep Galvez, English Barrister of Del Canto Chambers in...
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