Petronas Subpoenas UK Funder Over ‘Rogue’ Arbitration Award

A Malaysian state-owned energy company is accusing litigation funder Therium Capital Management of misconduct in a long-running leasing dispute.

Petronas Azerbaijan on Tuesday asked a federal court in Manhattan to order Therium and its parent company to turn over subpoenaed financial documents and communications. Petronas said it plans to sue the companies and their lawyers in Spain, claiming losses from the seizure of assets in Luxembourg.

Therium did not respond to a request for comment.

The underlying dispute involves descendants of a sultan who ruled part of the region—now known as Sabah—in the late 1800s who allege Malaysia breached a ...