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Sri Lanka loses oil hedging case amid petrol fiasco

Jul 12, 2011 10:09:45 PM - yahoo.com
Sri Lankas state run oil firm, CPC, will have to pay Standard Chartered bank over $160m plus interests for non-payment of dues, a London court ruled Monday, in relation to a controversial 2007 hedging deal the firm had entered into with Standard Chartered and four other international banks, Reuters reported. Two more of these, Citi Bank and Deutsche Bank, have cases pending against CPC in the ...