Dutch Court Rules in Favor of Malaysia, Adding to Funder’s Loss

Malaysia’s government obtained another victory—this time in the Netherlands—in a battle to scrap a $14.9 billion judgment that has spanned Europe.

The Supreme Court of the Netherlands ruled in favor of Malaysia on Friday, dismissing an appeal brought by the heirs of the Sultanate of Sulu. The group, backed by litigation funder Therium Capital Management, sued the country for breach of a contract dating back to the early 1800s.

The new ruling puts Therium’s reported $20 million investment in the case in further jeopardy. The company financed the Sulu heirs through nine rounds of funding since 2017, according to Reuters ...