World Bank Won't Toss TGP's Claim Against Jordan

Law360, New York (May 19, 2008, 12:00 AM EDT) -- A World Bank tribunal has rejected the Jordanian government’s bid to toss discrimination and unfair treatment claims by Trans-Global Petroleum Inc., a U.S. energy firm that conducts oil exploration in Jordan.

That three-arbitrator panel at the World Bank’s International Center for the Settlement of Investment Disputes ruled that TGP’s allegations against Jordan were legally sufficient at this point in time, the company said on Friday.

“We are pleased, but not surprised at the arbitrators’ decision,” said Nick Abraham, president of TGP. “We have always contended that...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.