Lekoil Limited Provides Litigation Update

Source: www.gulfoilandgas.com 8/4/2022, Location: Africa

LEKOIL, the Cayman Islands litigation asset company with an investment in oil & gas assets in Nigeria, wishes to announce a development in the litigation commenced by Mr Akinyanmi in the Superior Court of New Jersey. He alleged (amongst other things) breach of contract in the termination of his employment contract in an attempt to set off such sums against the amounts owing under the CEO Loan.

The Company announced on 14 June 2022 that it had successfully challenged Mr. Akinyanmi's choice of the New Jersey state court forum as improper to hear the claim and the claim would be stayed until further notice pending arbitration. Mr Akinyanmi has now appealed the decision of the court. The Company will fight this appeal.


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