{"id":40806,"date":"2022-02-24T15:53:57","date_gmt":"2022-02-24T15:53:57","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=40806"},"modified":"2022-02-24T15:54:01","modified_gmt":"2022-02-24T15:54:01","slug":"nigerias-suit-against-jp-morgan-begins-in-london","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/","title":{"rendered":"Nigeria\u2019s suit against JP Morgan begins in London &nbsp;"},"content":{"rendered":"<p>A London high court began to hear a lawsuit yesterday launched by Nigeria against United States bank JP Morgan Chase, claiming more than $1.7 billion for its role in a disputed 2011 oilfield deal. &nbsp;<\/p>\n\n\n\n<p>The civil suit filed in the English courts relates to the purchase by energy majors Shell and Eni of the offshore OPL 245 oilfield in Nigeria, which is also at the centre of ongoing legal action in Italy. &nbsp;<\/p>\n\n\n\n<p>A panel of judges in Milan acquitted the companies and executives, who all denied any wrongdoing, of bribery last March. Prosecutors have appealed the ruling. &nbsp;<\/p>\n\n\n\n<p>In the court documents pertaining to the London case seen by Reuters, Nigeria alleges JP Morgan was \u201cgrossly negligent\u201d in its decision to transfer funds paid by the energy majors into an escrow account to a company controlled by the country\u2019s former oil minister Dan Etete instead of into government coffers. &nbsp;<\/p>\n\n\n\n<p>The trial opened with details of the claim by Nigeria\u2019s lawyer, Roger Masefield. JP Morgan will present its defence early next week. The trial will end on April 7 and a judgment will likely take several months. &nbsp;<\/p>\n\n\n\n<p>In court, Masefield said Nigeria\u2019s case rested on proving two key points: there was a fraud and JP Morgan was aware of the risk of fraud. He said JP Morgan had breached its duties. &nbsp;<\/p>\n\n\n\n<p>\u201cThe evidence of fraud is little short of overwhelming. Under its Quincecare duty, the bank was entitled to refuse to pay for as long as it had reasonable grounds for believing its customer was being defrauded,\u201d Masefield told the court. &nbsp;<\/p>\n\n\n\n<p>Quincecare is a legal precedent whereby the bank should not pay out if it believes its client will be defrauded by making the payment. &nbsp;<\/p>\n\n\n\n<p>JP Morgan\u2019s London offices deal with business for Europe, Middle East and Africa, including Nigeria. &nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/thenationonlineng.net\/nigeria-sues-jp-morgan-in-london-over-1-7b-oil-deal\/\">More=Nation= <\/a>\u00a0<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-40806\" data-postid=\"40806\" class=\"themify_builder_content themify_builder_content-40806 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>A London high court began to hear a lawsuit yesterday launched by Nigeria against United States bank JP Morgan Chase, claiming more than $1.7 billion for its role in a disputed 2011 oilfield deal. &nbsp; The civil suit filed in the English courts relates to the purchase by energy majors Shell and Eni of the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":40807,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241,908],"tags":[162],"class_list":["post-40806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","category-oil-gas","tag-oil","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nigeria\u2019s suit against JP Morgan begins in London &nbsp; - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria\u2019s suit against JP Morgan begins in London &nbsp; - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"A London high court began to hear a lawsuit yesterday launched by Nigeria against United States bank JP Morgan Chase, claiming more than $1.7 billion for its role in a disputed 2011 oilfield deal. &nbsp; The civil suit filed in the English courts relates to the purchase by energy majors Shell and Eni of the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/\" \/>\n<meta property=\"og:site_name\" content=\"The Freezone Channel\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-24T15:53:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-24T15:54:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2022\/02\/JPMorgan.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1320\" \/>\n\t<meta property=\"og:image:height\" content=\"824\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"The Freezone Channel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Freezone Channel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/\",\"name\":\"Nigeria\u2019s suit against JP Morgan begins in London &nbsp; - The Freezone Channel\",\"isPartOf\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2022\/02\/JPMorgan.jpeg\",\"datePublished\":\"2022-02-24T15:53:57+00:00\",\"dateModified\":\"2022-02-24T15:54:01+00:00\",\"author\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/3a1d344082f3ae7b041dba05727d20cf\"},\"breadcrumb\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/#primaryimage\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2022\/02\/JPMorgan.jpeg\",\"contentUrl\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2022\/02\/JPMorgan.jpeg\",\"width\":1320,\"height\":824},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thefreezonechannel.com\/old\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nigeria\u2019s suit against JP Morgan begins in London &nbsp;\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#website\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/\",\"name\":\"The Freezone Channel\",\"description\":\"The Freezone Channel\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/thefreezonechannel.com\/old\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/3a1d344082f3ae7b041dba05727d20cf\",\"name\":\"The Freezone Channel\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/04a1708b00f2c2330ce922e6cb56a4331937beae4b7f6d1ed5c054222076f721?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/04a1708b00f2c2330ce922e6cb56a4331937beae4b7f6d1ed5c054222076f721?s=96&d=mm&r=g\",\"caption\":\"The Freezone Channel\"},\"url\":\"https:\/\/thefreezonechannel.com\/old\/author\/okolilovethcyahoo-com\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Nigeria\u2019s suit against JP Morgan begins in London &nbsp; - The Freezone Channel","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/","og_locale":"en_US","og_type":"article","og_title":"Nigeria\u2019s suit against JP Morgan begins in London &nbsp; - The Freezone Channel","og_description":"A London high court began to hear a lawsuit yesterday launched by Nigeria against United States bank JP Morgan Chase, claiming more than $1.7 billion for its role in a disputed 2011 oilfield deal. &nbsp; The civil suit filed in the English courts relates to the purchase by energy majors Shell and Eni of the [&hellip;]","og_url":"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/","og_site_name":"The Freezone Channel","article_published_time":"2022-02-24T15:53:57+00:00","article_modified_time":"2022-02-24T15:54:01+00:00","og_image":[{"width":1320,"height":824,"url":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2022\/02\/JPMorgan.jpeg","type":"image\/jpeg"}],"author":"The Freezone Channel","twitter_card":"summary_large_image","twitter_misc":{"Written by":"The Freezone Channel","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/","url":"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/","name":"Nigeria\u2019s suit against JP Morgan begins in London &nbsp; - The Freezone Channel","isPartOf":{"@id":"https:\/\/thefreezonechannel.com\/old\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/#primaryimage"},"image":{"@id":"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/#primaryimage"},"thumbnailUrl":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2022\/02\/JPMorgan.jpeg","datePublished":"2022-02-24T15:53:57+00:00","dateModified":"2022-02-24T15:54:01+00:00","author":{"@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/3a1d344082f3ae7b041dba05727d20cf"},"breadcrumb":{"@id":"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/#primaryimage","url":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2022\/02\/JPMorgan.jpeg","contentUrl":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2022\/02\/JPMorgan.jpeg","width":1320,"height":824},{"@type":"BreadcrumbList","@id":"https:\/\/thefreezonechannel.com\/old\/nigerias-suit-against-jp-morgan-begins-in-london\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thefreezonechannel.com\/old\/"},{"@type":"ListItem","position":2,"name":"Nigeria\u2019s suit against JP Morgan begins in London &nbsp;"}]},{"@type":"WebSite","@id":"https:\/\/thefreezonechannel.com\/old\/#website","url":"https:\/\/thefreezonechannel.com\/old\/","name":"The Freezone Channel","description":"The Freezone Channel","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thefreezonechannel.com\/old\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/3a1d344082f3ae7b041dba05727d20cf","name":"The Freezone Channel","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/04a1708b00f2c2330ce922e6cb56a4331937beae4b7f6d1ed5c054222076f721?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/04a1708b00f2c2330ce922e6cb56a4331937beae4b7f6d1ed5c054222076f721?s=96&d=mm&r=g","caption":"The Freezone Channel"},"url":"https:\/\/thefreezonechannel.com\/old\/author\/okolilovethcyahoo-com\/"}]}},"builder_content":"","_links":{"self":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts\/40806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/comments?post=40806"}],"version-history":[{"count":0,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts\/40806\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/media\/40807"}],"wp:attachment":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/media?parent=40806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/categories?post=40806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/tags?post=40806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}