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Crude Oil Recoveries Court adjourns to allow for settlement in FG's suit against Brasoil

Court noted that as a court of justice, it would not be proper to continue with trial in the face of the request for an amicable settlement.

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Black Gold (Crude Oil) play

Black Gold (Crude Oil)

(ForexAnalytix)

The Federal High Court sitting in Lagos on Monday adjourned proceedings in the suit filed by the Federal Government against Brasoil Services Nigeria.

The case was adjourned to 5th July, 2017, to allow the parties explore an amicable settlement of the dispute before the court.

When the matter was called, Ituah Imhanze, Counsel representing the FG, informed the Court of Brasoil’s letter to the Minister of Justice, requesting for an amicable end to the matter.

When Hameed Abdulkareem, Counsel representing Brasoil confirmed that he was aware of the letter written by the Managing Director of Brasoil directly to the Minister of Justice, and marked without prejudice; the Court noted that as a court of justice, it would not be proper to continue with trial in the face of the request for an amicable settlement.

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The court noted that "this court, not being a jungle court but a court of justice, is obliged by the Rules of Court to allow the parties at least 30 days to explore amicable resolution where such request has been made, and that the Lawyers should encourage and not scuttle such efforts by the parties".

The case was adjourned for report of the settlement.

It will be recalled that the FG had sued Brasoil and some other international oil companies (IOCs) on the missing revenues from Nigerian crude oil and gas that were either undeclared or under-declared.

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