Arcadia Petroleum Ltd., the oil trading-firm owned by billionaire John Fredriksen, sued its former chief executive officer and chief financial officer over an alleged $287 million fraud.
The company won a ruling from the High Court of Justice, Queen’s Bench Division Commercial Court April 1 allowing it to proceed with the lawsuit in London as a judge rejected a bid by ex-Arcadia CEO Peter Bosworth and former CFO Colin Hurley to have the case dismissed because they live in Switzerland Arcadia Petroleum Ltd. & Ors v. Peter Miles Bosworth & Ors.
Arcadia says Bosworth and Hurley were behind a ...
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