Former National Oil Corporation (NOC) Chairman Mustafa Sanalla announced on Sunday that the Paris High Court has issued a final ruling, confirming the arbitral award issued in January 2018 and the ruling of the Paris Court of Appeal in February 2021 in "Lerco" Case 1.
According to Sanalla's Facebook page, the ruling rejected all claims by the Emirati partner for compensation of approximately $1 billion exclamation.
The French court also ordered "Lerco" to pay more than $140 million to the NOC for previous oil invoices that the company concerned refused to pay.
Sanalla emphasized that the Paris court ruling is final and confirms the fairness of the NOC's position and the illegality of the partner's claims.
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