Nigeria Lawsuit In opposition to JP Morgan Over Oil Deal To Go To Trial

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LONDON: A lawsuit launched by the Nigerian authorities in opposition to U.S. financial institution JP Morgan Chase, claiming over $1.7 billion for its position in a disputed 2011 oilfield deal, will proceed to trial, London’s excessive courtroom dominated on Thursday.

The go well with filed within the English courts in 2017 pertains to the acquisition of the offshore OPL 245 oilfield in Nigeria by oil majors Royal Dutch Shell and Eni in 2011, which is the topic of an ongoing trial in Milan.

The six-week London trial will begin after Nov. 1 subsequent 12 months.

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