West & East Africa Shareholders in the United States Seek $40 Million Mediation with Cairo's Citadel Capital Subsidiary, National Petroleum Company (NPC)
Aug 23, 2011 (PRN): United States business Gaille & Company, LLC has filed a request with the United States Department of Commerce seeking the U.S. Government’s assistance in mediating an investment dispute with Citadel Capital’s NPC. Gaille & Company has been a shareholder in NPC’s subsidiary, West & East Africa, since 2007. West & East Africa is pursuing a U.S. $40 million oil and gas exploration program in Sub-Saharan Africa.
The United States – Egypt Bilateral Investment Treaty provides for certain consultation and negotiation options before the filing of an arbitration with the International Court. Gaille & Company, LLC has sought these rights in an effort to mediate an ongoing dispute over Citadel Capital’s NPC obligation to fund the U.S. $40 million oil and gas exploration program in Africa. [Wired by: PressReleaseNetwork.com]
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