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Appeals Court Finds For Congo Oil Co. In Loan Suit

Law360 (October 18, 2007, 12:00 AM EDT) -- A federal appeals court reversed a lower court decision that said the state-run Congo oil company was not immune from a federal racketeering suit brought in the U.S. by an investment firm hoping to recoup a loan.

A three-judge panel of the U.S. Court of Appeals for the Second Circuit said Thursday that Societe Nationale Des Petroles Du Congo could not be sued here, but that the lower court should reconsider whether that was also true for its chief Bruno Jean-Richard Itoua.

In March 2006, the...
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