JPMorgan Urges Court To Strike Out $875M Nigerian Oil Suit

Law360, London (February 4, 2019, 6:27 PM GMT) -- JPMorgan urged a London court on Monday to strike out Nigeria's claim that the U.S. banking giant should have prevented the transfer of more than $800 million in state funds to a shell company run by a corrupt former oil minister.

JPMorgan Chase Bank NA argued at the High Court on Monday that the Federal Republic of Nigeria has no real prospect of success in its suit alleging that the bank breached its duty of care, saying the action should be struck out or dismissed on summary judgment.

The suit alleges that JPMorgan was "grossly negligent" in 2011 and 2013 when it allowed...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS