Overseas investors poised to take control of Dublin-based oil and gas exploration Petrel Resources PLC have told the High Court that shares traded in violation of a lock-in agreement were sold by a third-party lender who allegedly engineered the default of their loan. Justice Leonie Reynolds on Friday maintained orders made in an injunction last week to freeze the remaining stake held by defendants Roger Edward Tamraz, Michel Fayad, Said Mehraik and their financial intermediary Chase Nominees Ltd, pending a full resolution of the case. Fayad and Mehraik, two Paris-based members of the group of investors led by Edward Tamraz…
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