Shell, Exxon Units Fight Bid To Toss $2 7B Nigeria Award Suit
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Shell, Exxon Units Fight Bid To Toss $2 7B Nigeria Award Suit
law360.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from law360.com Daily Mail and Mail on Sunday newspapers.
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The Federal High Court, in Abuja, has ordered the arrest of Richard Laing, Managing Director, ExxonMobil Nigeria, according to the Economic and Financial Crimes Commission (EFCC) in a series of tweets on Wednesday.
The EFCC stated in the tweets via its verified handle that the judge, Okon Abang, issued the bench warrant against Mr Laing following an application by the commission’s lawyer.
The commission said it resorted to asking for the arrest warrant since Mr Laing allegedly ignored three successive invitations to answer to procurement fraud allegations.
Court Gives EFCC Nod to Arrest Mobil Nigeria MD
A Federal High Court, Abuja has given the Economic and Financial Crimes Commission, EFCC, the nod to arrest Mr. Richard Laing, Managing Director, ExxonMobil Nigeria. pic.twitter.com/CUZsj8pQrm
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2nd Circ. Seems Wary Of Enforcing Nixed $2.7B Nigeria Award
Law360 (January 22, 2021, 8:56 PM EST) A Second Circuit panel appeared disinclined on Friday to completely enforce an annulled $2.7 billion arbitral award against Nigeria s state-owned oil company, as one judge expressed apparent frustration over the remarkably general rule allowing courts to do so in certain circumstances.
Units of ExxonMobil Corp. and Royal Dutch Shell PLC are urging the Second Circuit in the appeal to reverse a September 2019 ruling that refused to enforce the $1.8 billion award, which was worth approximately $2.7 billion with interest as of late 2018.
ExxonMobil subsidiary Esso Exploration and Production Nigeria Ltd. and Royal Dutch Shell subsidiary Shell Nigeria Exploration and Production.