Nigeria has tracked down and grounded the luxury private jet purchased by its former oil minister, Dan Etete, with some of the alleged proceeds of the notorious $1.3 billion Malabu OPL245 oil deal. Lagos law firm Johnson & Johnson Solicitors, was appointed by the Nigerian government in 2016 to recover assets from the deal. American litigation funder Drumcliffe Partners is said to be helping fund the recovery.
An appeals court in Milan has rejected Nigeria’s claims against Eni and Shell for damages stemming from the companies’ allegedly improper acquisition of the deepwater OPL 245 block. Had the $1.092 billion claim been successful, US funder Drumcliffe Partners could have received more than $350 million.
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