KEPCO's Nigerian Projects On Hold After Court Ruling

Law360, New York (May 15, 2012, 6:38 PM EDT) -- A ruling by the Nigerian Court of Appeals in a complex contract dispute has left Korea Power and Electric Corp.'s oil production and electricity projects in the country on hold, according to a regulatory filing Tuesday.

The court ruled that the government of Nigeria illegally canceled the contract of a Korean consortium's oil contracts, according to a filing with the U.S. Securities and Exchange Commission. The appeals court further ruled that a lower court, which had decided in favor of the government, did not have proper...
To view the full article, register now.