Merrill wins Neptune case in Cyprus court

But the saga goes on as the minority shareholders who brought the case make a similar filing in Singapore.

The financing that was put in place by Merrill Lynch to enable the founding CEO of drill-ship owner and operator Neptune Marine Oil Gas to buy control of the company has been given the all clear by a Cyprus court.

Most of the ruling is based on technical grounds, including a decision that the four minority shareholders who brought the case had no legal rights to do so as they are not registered shareholders. However, the judge also gave some...

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