Credit: Pavant/Adobe Stock UK Court Sides with Nigeria as $11B Arbitral Award Declared Fraudulent
Observers have said that the judgment sends a message that countries must not waver in their efforts to root out historic corruption.
October 24, 2023 at 06:07 AM
3 minute read
Dispute Resolution
London's High Court has ruled in favour of Nigeria, finding that a gas company had obtained an $11 billion arbitral award fraudulently.
Justice Robin Knowles of the Commercial Court set aside the contentious $11 billion arbitral award on Monday, citing fraudulent procurement by Process & Industrial Developments Limited (P&ID).
The Nigerian government had earlier contested the award, accusing P&ID of presenting false evidence during arbitration and continuously bribing some Nigerian officials.
Mishcon de Reya had been representing Nigeria, while Quinn Emanuel Urquhart & Sullivan had earlier replaced Kobre & Kim as P&ID's representatives.
"I have not accepted all of Nigeria's allegations. But the awards were obtained by fraud and the awards were and the way in which they were procured was contrary to public policy," Knowles said in his judgment.
P&ID, an engineering company based in the British Virgin Islands, had entered into a 20-year contract with the Nigerian government in 2010 to construct a natural gas processing plant, which did not materialise.
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