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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Market

FG, states talks on Excess Crude Account fail

Posted on 23 November 2012

The Federal Government and the 36 state governments have again failed to reach an out-of-court settlement in the Excess Crude Account suit. The latest episode was the 13th failed attempt to settle the dispute since the suit was filed in 2008.
This emerged on Thursday when the two parties appeared before a seven-member panel of justices of the Supreme Court to present the report on the proposed out-of-court settlement. At the last hearing in the matter on September 25, the apex court had granted an adjournment at the instance of the Federal Government to enable the two sides to settle the matter out of court………………………………………..Full Article: Source


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