Shell share price: Group seeks to block spill claims in London court

on Nov 23, 2016
Updated: Oct 21, 2019

Royal Dutch Shell (LON:RDSA) is seeking to block a lawsuit in the English courts over oil spills in the Niger Delta, the Financial Times has reported. The news comes as a four-day hearing in the High Court this week is due to consider whether the claims, brought by two communities, can be heard in the UK where the Anglo-Dutch oil major is incorporated.

Shell’s share price meanwhile has been steady in London this morning, having added 0.72 percent to 2,040.50p as of 09:17 GMT, largely in line with gains in the benchmark FTSE 100 index which currently stands 0.65 percent higher at 6,863.87 points. The oil major’s shares have gained some 25 percent over the past year, and are up by more than a third in the year-to-date.
The FT reported yesterday that Shell had said that claims brought against the company over oil spills in the Niger Delta should be heard in the Nigerian courts since they involves issues under Nigerian law, while the alleged damage took place in the African country.

“We do not minimise the problems that local people have suffered from the issue of pollution,” Lord Goldsmith QC, for Shell, told the High Court, as quoted by the FT. “The question is how to deal with that. We say it is not going to be by coming to a London court but by looking to a holistic solution in Nigeria.”
Leigh Day, the law firm acting for the claimants, however, argues that the case should be heard in London, with similar cases having languished in the Nigerian justice system for years. The hearing is being closely watched because it could potentially open the floodgates to more global companies being sued in the English courts.
As of 09:54 GMT, Wednesday, 23 November, Royal Dutch Shell Plc ‘A’ share price is 2,037.00p.

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