LAGOS Jan 27 A Nigerian court upheld an order
on Monday barring Chevron from selling its onshore assets until
a legal dispute with local firm Brittania-U is resolved,
Brittania-U's lawyers said outside the court.
Brittania-U alleges it had a deal with the U.S. oil major to
buy the assets, which Chevron denies.
"The court upheld the interim order in favour of Brittania
to protect the assets while the substantive case is still being
determined," lawyer Rickey Tarfa said.
"The judge said that the order needs to be in place until
the case is decided. The order restrains Chevron from
transferring the asset or doing anything with the assets."
Chevron's lawyer at the Federal High Court in Lagos
declined to comment.
The Nigerian firm, run by former Chevron executive Catherine
Uju Ifejika, was the highest bidder at over $1 billion for the
biggest cluster of blocks - OML 52, 53 and 55 - and Chevron
began discussions with the company over the sale.
Chevron decided to look at alternative bids after
Brittania-U failed to prove it could muster the sum promptly,
banking and oil industry sources said.
Among the challenges being heard are whether or not the court
even has jurisdiction in the case.