UK Court Allows Nigeria's Case Against JP Morgan to Proceed

An U.S.$875 million Nigerian government lawsuit against U.S. bank JP Morgan is clear to move forward after a London-based appeals court rejected the bank's bid to have the case dismissed. The bank had asked the court to quash the Nigerian government's case, arguing that it had no prospect of success. Nigeria is accusing the company of negligence in transferring funds from a disputed 2011 oil field deal to a company controlled by the country's former oil minister, Dan Etete.

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