Soma Loses U.K. Court Bid to Force SFO to End Bribery Probe

Author(s): Suzi Ring | Date: August 18, 2016 | Language: English
Source: http://www.bloomberg.com/ | URL: http://goo.gl/32rIrh | Type: text

Soma Oil & Gas Holdings Ltd. lost a court bid to force the U.K. Serious Fraud Office to end a bribery investigation into the company despite arguing that the firm may become insolvent if the probe continues.
Lawyers for Soma sought a judicial review of the probe from a London court Wednesday, saying the SFO hadn’t properly weighed the risks to the company’s viability of the investigation continuing. The application was denied because the judges didn’t see any “prospect of success.”

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