A new High Court judgment has spotlighted many of the intricacies at play in the San Leon saga as it faces down a winding-up petition. The oil and gas exploration firm, led by Oisin Fanning, failed in its case to have a winding-up petition restrained after a financing deal that would have cleared some debts fell through. In this instance, Brightwaters Energy, a Nigerian-registered construction business that specialises in oil and gas infrastructure, had sought to wind up Fanning’s company after it failed to make a payment of $16.5 million (€14.2 million). San Leon moved to restrain that petition last…

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