Estimated Reading Time: 1
A High Court in London on Friday ruled that the $1 billion case against oil giants Shell and ENI over the Malabu Oil deal cannot proceed.
The High Court Judge, Christopher Butcher, is reported to have held that the court does not have jurisdiction to hear the matter, which has a parallel proceeding in Italy, also brought by the Nigerian government over the Malabu deal.
This was what formed the basis on which Shell and ENI had moved to stop or stay proceedings in the $1 billion lawsuit in the UK, during virtual hearings of the case.
Both companies argued that the case in the UK court was a duplication of the ongoing criminal trial and a parallel civil claim brought by Nigeria in Italy over the same matter.
Nigeria had sued Shell and ENI for $1.1 billion in 2011 over the licencing of OML 245 which the nation claims the said companies made it miss as a result of bribes they paid to Malabu oil, owned by former Minister of Petroleum, Dan Etete.
To continue telling under-reported stories, we need your support for the work we do, donate to http://paystack.com/pay/newswirengr
Also, kindly donate to the work we do using this interim PAYPAL ID https://www.paypal.me/NewsWireNGR
- Sell petrol at old rate until PPPRA gives directive, IPMAN tells members
- #Revolutionow protesters in Osun may be locked up for 14 days as DSS obtains detention order
- Governor Seyi Makinde approves N59.7 Million for Amotekun
- Nigeria, along with other ILO Member countries, ratify convention on child labour
- Health workers in Bauchi to begin strike on Thursday
- Association of aircraft pilots and engineers threaten to shut down all airlines over sacked pilots
- Arrested #RevolutionNow protesters released; they violated COVID-19 protocols says FCTA
- Edo Elections: Deputy governor accuses Oshiomhole of N80 million bribe to lawmakers
- Edo State Deputy Speaker impeached
- Kaduna state government is not aware of any land grabbing incidents says Governor El-Rufai