Liberia: Justice Banks Denies Harry Greaves' Petition to Stop Oil Block Sale

A request to prevent the Liberian government from receiving about US$120million as "signature bonus" from the sale of the four remaining offshore oil blocks LB-6, LB-7, LB-16 and LB-17, was last Thursday, November 27, denied by the Associate Justice presiding in Chambers, Justice Philip A. Z. Banks.

Mr. Greaves had filed a writ of prohibition against the National Oil Company of Liberia (NOCAL) to prevent the sale of the four offshore oil blocks. GOL is scheduled to receive a "signature bonus" from each of the international oil Companies (IOCs), amounting to US$30 million. But Mr. Greaves, former Managing Director of the Liberia Petroleum Refinery Company (LPRC), filed a lawsuit against NOCAL before Justice in Chambers Banks.

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