Albion Wins Bid For Final $13M Slice Of Heritage Oil Buy

Law360, London (February 17, 2020, 6:11 PM GMT) -- A judge handed U.K.-based Albion Energy Ltd. a $13 million win in litigation against an ex-Qatari prime minister’s company that purchased its stake in an oil exploration company, rejecting the investor's claim that the dispute should be arbitrated.

High Court Judge David Foxton held that Energy Investments Global BRL, a company beneficially owned by former Qatari prime minister Sheik Hamad, had not proved the claim Albion brought for payment fell within an arbitration agreement the parties included in an escrow arrangement for the final payment in the deal.

“On the facts of this case, I am quite satisfied that the claim...

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