MALABU SCANDAL: Court dismisses JP Morgan's appeal to stop Nigeria from prosecuting it
Nigeria, Oct. 8 -- The Royal Court of Justice on Tuesday unanimously dismissed banking giant JP Morgan's appeal against the Nigerian government over its role in the controversial Malabu scandal.
According to civic campaigner, Barnaby Pace of Global Witness, who was at the court on Tuesday, the court took no view on the underlying cause but ruled that the contractual terms did not rule out Nigeria bringing the claim.
This implies that the banking giant lost its appeal to stop the Nigerian government from proceeding with its suit.
PREMIUM TIMES understands that Tuesday's verdict was devoid of speeches and arguments as it was just a hand down of the judgement.
Last July, JP Morgan told an appeal court that it acted in line with its legal...
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