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Malabu: JP Morgan to appeal judgement allowing its prosecution by Nigerian govt
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Nigeria, July 12 -- Indications emerged Thursday that JP Morgan Chase will appeal a court decision that dismissed its motion to halt its prosecution by the Nigerian government last February.
Details of the development were contained in a skeleton argument presented by the Nigerian government through its lawyers during a case management hearing at a London High Court on Thursday.
Last February, a High Court in London had dismissed a motion filed by the U.S. firm to halt its prosecution by the Nigerian government over the Malabu oil scandal.
In a ruling, the judge, Andrew Burrows, held that the American investment/finance firm "owed Nigeria a duty of care; as indicated by an implied term in the written agreement". "The duty of care was n...
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