The High Court has scrapped two deals between Canadian company Niko and state-run companies Petrobangla and Bapex.
The court has also ordered the state to seize all of Niko’s assets in Bangladesh.
The assets will not be returned to Niko until the corruption and compensation cases against the company are resolved by lower courts, the High Court said.
The verdict was issued on Thursday, at the final hearing of a rule based on a petition filed in 2016.
The deals, signed in 2003 and 2006, attempted to improve Bangladesh’s capacity to extract and supply natural gas.
The first was a joint venture agreement with Bapex. The other was a gas purchase and sales agreement with Petrobangla.
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