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Shareholders Must Pay Bond In $573M Pakistan LNG Row

Law360 (February 12, 2018, 8:49 PM EST) -- A British court on Friday ordered the shareholders for a former liquefied natural gas business in Pakistan to post a £400,000 ($553,000) security payment as they try to revive their $573 million contract dispute with Pakistan, which the Mauritius companies accuse of manipulating gas prices in the country so their business would fail and then expropriating their assets after the fact.

High Court of Justice Business and Property Court Judge Simon Picken ordered the Mauritius companies — Progas Energy Ltd., Progas Holding Ltd. and Sheffield Engineering...
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