An American lender accused of fraud in recent High Court proceedings remains central to the resolution of a dispute surrounding the takeover of Dublin-based oil exploration company Petrel Resources by overseas investors. The AIM-listed company headquartered on the Clontarf waterfront issued an “update on agreement with the Tamraz Group” to the stock market on April 3, signalling an “understanding with the Tamraz Group on a way forward”. US-Lebanese businessman Roger Tamraz, his French-based associates Michel Fayad and Said Mehraik, and their Bulgarian-registered company Netoil Inc Ltd agreed to take a majority stake in Petrel last year, but the deal has…

Join The Currency

INTRODUCTORY OFFER: Full annual membership for just €200.

Don’t miss out on what is going on with our daily unique stories from our team of skilled journalists and insightful commentators.

Members of The Currency get full access to over 4,000 exclusive interviews, investigations, and analysis, plus over 460 podcasts.

Annual membership is just €200 for the first year, a saving of €100.

Or try The Currency for the first month for a special introductory rate of €5, a saving of €20.

Cancel at any time.

To become a member today click here.