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Reuters
Reuters
Business
By Rozanna Latiff

Malaysia obtains stay order against $15 billion award to late sultan's heirs

Malaysia said on Wednesday it had obtained a stay order against the enforcement of a French arbitration court ruling ordering the government to pay $14.9 billion to the descendents of a late sultan over a colonial-era land deal.

A British law firm representing the heirs did not immediately respond to a request for comment.

The Paris Court of Appeal on Tuesday allowed an application by the Malaysian government for the stay after finding that enforcement of the award could infringe the country's sovereignty, Malaysia's law minister Wan Junaidi Tuanku Jaafar said in a statement.

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