04-08-2022, 03:29 PM
August 4, 2022
2:15 PM GMT+8
Last Updated an hour ago
By Rozanna Latiff and A. Ananthalakshmi
......
In 1878, two European colonists signed a deal with the sultan for the use of his territory in present-day Malaysia – an agreement that independent Malaysia honoured until 2013, paying the monarch's descendants about US$1,000 a year.
Now, 144 years later after the original deal, Malaysia is on the hook for the second largest arbitration award on record for stopping the payments after a bloody incursion by supporters of Sultan Mohammed Jamalul Alam's heirs in which more than 50 people were killed.
......
The arbitration ruling in France followed an eight-year legal effort by the heirs and US$20 million in funds raised for them from unidentified third-party investors
......
Malaysia did not participate in nor recognise the arbitration - allowing the heirs to present their case without rebuttal - despite warnings that it would be dangerous to ignore the process.
Much better to read full report for more details at: https://www.reuters.com/world/asia-pacif...022-08-04/
2:15 PM GMT+8
Last Updated an hour ago
By Rozanna Latiff and A. Ananthalakshmi
......
In 1878, two European colonists signed a deal with the sultan for the use of his territory in present-day Malaysia – an agreement that independent Malaysia honoured until 2013, paying the monarch's descendants about US$1,000 a year.
Now, 144 years later after the original deal, Malaysia is on the hook for the second largest arbitration award on record for stopping the payments after a bloody incursion by supporters of Sultan Mohammed Jamalul Alam's heirs in which more than 50 people were killed.
......
The arbitration ruling in France followed an eight-year legal effort by the heirs and US$20 million in funds raised for them from unidentified third-party investors
......
Malaysia did not participate in nor recognise the arbitration - allowing the heirs to present their case without rebuttal - despite warnings that it would be dangerous to ignore the process.
Much better to read full report for more details at: https://www.reuters.com/world/asia-pacif...022-08-04/