Biofuel AS set out to produce sustainable biofuel from jatropha in Ghana. Production was under way, and StatoilHydro was on the verge of investing NKr30m–NKr40m ($4.5m–$6m).
But Biofuel claims that unconfirmed allegations about possible corruption made by consultants in a due-diligence report commissioned by StatoilHydro turned everything upside-down.
StatoilHydro withdrew from investing in Biofuel, the company was declared bankrupt and the issues are now being dealt with in the Stavanger courts.
“Statoil’s
