A High Court in London on Friday ruled that the $1 billion cases against oil giants Shell and ENI over the Malabu Oil deal cannot proceed.
According to ABN TV, 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 oil deal.
This was what formed the basis on which Shell and ENI had moved to stop or stay proceedings in the $1 billion lawsuits in the UK, during virtual hearings of the case.
Read Also: Customs Seize Suspected Hard Drugs Worth N1bn In Lagos
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.
https://abntv.com.ng/2020/05/catholic-archbishop-ask-fg-to-consider-herbal-remedies-for-covid-19/
The Independent National Electoral Commission, INEC, has called on political parties to suspend all campaign…
Abia State has announced plans to join the global community to commemorate World Clean-Up Day,…
President Bola Tinubu has reiterated his administration’s commitment to creating a robust financial system and…
Nigeria has outlined various strategic approaches toward the achievement of Agenda 2063 of the African…
NECO has announced the 2024 SSCE internal exam results, showing that 60.55% of the 828,284…
The National Examinations Council (NECO) has released the results of the June/July 2024 Senior School…