A McGuireWoods team recently won judgment in the Commercial Court in London in the sum of U.S. $110.5 million in favor of EVP against Malabu Oil & Gas. This action, which relates to a disputed U.S. $1.3 billion transaction concerning what is thought to be Africa’s largest offshore oil block at 9 billion barrels (OPL 245), has been one of the biggest and highest profile cases in the London market of recent years. As well as being a landmark decision in the energy market, it is significant for Africa and other rapidly developing economies where overseas investors are sought for indigenous assets.
The McGuireWoods team was led by Hardeep Nahal and has, among others, included Vivian Robinson QC and Rose Parlane, William Boddy and Chloe Steele, with support from a range of staff.