Osman Shahenshah and Shahid Ullah to pay $17m plus $3m in costs following claims of unauthorised payments
The former boss and chief operating officer of Afren, a London-listed oil and gas explorer, have agreed to pay $20m (£13m) to the company after being threatened by legal action over a series of unauthorised payments.
Osman Shahenshah, the ex-chief executive, and Shahid Ullah, the past chief operating officer, were sacked last autumn amid a scandal over cash transferred without the board’s consent.