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Drumcliffe’s involvement in the OPL 245 case

Drumcliffe’s involvement in the OPL 245 case

A new side to the OPL 245 case has emerged in the state of Delaware, which has the most lenient corporate laws in the United States.

The Nigerian government enlists help from US offshore fund

According to open and undisputed sources , the federal government of Nigeria commissioned the Lagos-based law firm Johnson & Johnson, whose principal partner is Babatunde Olabide Johnson, to represent it in the lawsuit filed against Eni and Shell in Italy and other countries. Johnson & Johnson is reported to have drawn up an agreement for the covering of legal costs with the American firm Poplar Falls, founded in 2016 in Delaware by Maryland-based offshore fund Drumcliffe Partners, which specialises in financing lawsuits for debt recovery.

Under this agreement, Poplar Falls is reported to have paid $2.75 million in advance to Johnson & Johnson in exchange for the right to a repayment of more than double the amount over – and this is the most controversial point – 35 per cent of any sums recovered by the Nigerian state. If the claims of the Nigerian plaintiff were ever upheld by the Court of Milan, Poplar Falls would collect a premium in excess of $350 million – an unjustifiably large sum.

Under section 1782 of Title 28 of the United States Code, which obliges American companies to make available the documentation required by other companies to defend themselves outside the United States, Eni requested the Delaware District Court to order Drumcliffe to produce the documents relating to its agreements with Nigerian subjects.

INFORMATION DOWNLOADED FROM eni.com WEBSITE 8 APRIL 2021

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Litigation Funder Urges Rethinking, Limiting Eni Subpoena

Law360 (April 7, 2021, 7:19 PM EDT) — U. S. litigation funder Drumcliffe Partners has urged a Delaware federal judge to reconsider approving Italian oil giant Eni’s subpoena against it, saying the circumstances surrounding the discovery authorization have changed since it got the green light.

Eni SpA was embroiled in a years-long fight against the Nigerian government.

The country claimed that an oil prospecting license that Eni bought with Royal Dutch Shell PLC was granted through corruption, and so it blocked the companies from converting their license into one for oil mining. Drumcliffe entities got entangled in the dispute after Eni accused them of funding Nigeria’s attempt to recover $1. 09 billion…

SOURCE

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