Bank Opposes Arbitrator’s Emergency Order To Freeze Funds Pending Chad Arbitration

(September 12, 2023, 1:58 PM EDT) -- NEW YORK — Two banking entities filed a brief in New York federal court opposing a Bahamian investor’s petition for injunctive relief in aid of its pending arbitration against the Republic of Chad for allegedly harming a Cameroonian oil pipeline company the investor partly owns, writing that the court should defer to a Gabonese court where an application to unfreeze the roughly $151 million account is pending despite the investor’s argument that Chad “is taking illegal steps amid a military coup in Gabon” to seize the funds....