Brittania-U: Appeal Court to hear suit June 5
The Court of Appeal in Lagos will on June 5 hear an appeal by Chevron USA Incorporated and others against Brittania-U Nigeria Limited.
The other appellants are BNP Paribas Securities Corporation, Mr Hermant Patel and Seplat Petroleum Development Company Limited.
CONTINUE READING THIS ARTICLE BELOW AFTER THESE IMPORTANT NOTICES
Log in to primsol.lawpavilion.com and store.lawpavilion.com to enjoy the best E-journals, textbooks, and many more. For further enquiries/assistance, send an email to customercare@lawpavilion.com or call 08050298729
Chevron, in the appeal filed two-and-a-half years ago, is challenging a Federal High Court judgment assuming jurisdiction in a suit on the divestment of Chevron’s interest in Oil Mining Licenses 52, 53 and 55.
The court awarded N20,000 cost to Brittania-U after its counsel Abiodun Owonikoko (SAN) withdrew a motion to dismiss the appeal after the appellants’ counsel said records had been compiled and transmitted.
Brittania-U sued the defendants (appellants) over the Oil Mining Leases numbered 52, 53 and 55, sold by Chevron.
It also took the matter to the Supreme Court following the Appeal Court ruling which vacated an order of interlocutory injunction by a High Court restraining Chevron and Seplat from concluding any deal on the oil leases.
Chevron had offered OMLs 52, 53 and 55 for sale and invited bids from interested firms, but alleged failed to make a public announcement of a winner, a reserve bidder and unsuccessful bids.
It then allegedly turned its back on the highest bidder, Brittania-U, and began to deal with Seplat behind the scene.
Brittania-U went to court to contest Chevron’s action of not declaring it winner after it posted a $1.67 billion bid for the three assets, an amount later revised to $1.015 billion after both companies’ officials met in Houston, United States.
Seplat was said to have posted a bid of $630 million for the same assets.
FOR SUPPORT TO BARRISTERNG BLOG, DONATE TO: 1. NAIRA ACCOUNT: 1023046978 - UBA 2. USD ACCOUNT: 5090743566 - FIDELITY BANK PLC
Call Bridget Edokwe Esq on 08060798767 or send your articles to barristerngblog@gmail.com
A Must-Have for Every Lawyer: Order Justice Alaba Omolaye-Ajileye’s Latest Books on Electronic Evidence Today: To order your copies, click the link below and order directly from the author:
https://velvety-cendol-7387ed.netlify.app/
SHOP NOW
The Price is 10k for Hard Copy less freight and 5k for E- Book copy in the Store of the Website. https://buokorie.com/store/ To access the hard copy, Call - 07087622283
