US EditionNigeria wins bid to overturn $11 bln damages for collapsed gas deal
- Justice Robin Knowles reversed the $11 billion award to Process & Industrial Developments Ltd. Over the failed gas project.
- Nigeria's lawyers argued that P&ID had bribed senior officials to obtain the contract and corrupted the country's lawyers during arbitration. The judge found that P&ID had paid bribes to a Nigerian oil ministry official in connection with the gas contract.
- The judge criticized the two British lawyers for their misconduct and referred their case to legal standards regulators. This ruling is a major boost for Nigeria, which is currently facing economic challenges.
14 Articles
14 Articles
Nigeria escapes $11 billion bill after landmark UK court ruling over failed gas project
Nigeria’s government is celebrating a “landmark victory” after a UK court ruled it was not liable for a multibillion-dollar payout earlier awarded to a private firm over a failed gas project.
Nigeria wins bid to overturn $11bn damages for collapsed gas deal
Nigeria on Monday hailed a landmark victory after it won its bid to overturn an $11 billion damages bill for a collapsed gas project, in a case a judge at London's High Court said exemplified the ravages of greed and corruption.
Eye on Africa - Eye on Africa | Nigeria wins $11billion damages appeal over failed gas deal
In tonight's edition: Nigeria no longer has to pay a multibillion dollar fine over a failed gas deal. A London court has backed Abuja's appeal over damages. We speak to the president of Rugby Africa about the prospects for rugby on the continent as South Africa powers through the rugby World Cup. And France teams up with Nigeria in a crackdown on piracy in the Gulf of Guinea.
Nigeria wins bid to overturn $11 bln damages for collapsed gas deal
Nigeria on Monday hailed a landmark victory after it won its bid to overturn an $11 billion damages bill for a collapsed gas project, in a case a judge at London's High Court said exemplified the ravages of greed and corruption.
A British court ruling frees Nigeria from paying $11 billion in damages over a failed gas project
ABUJA, Nigeria (AP) — A London judge on Monday overturned an arbitration award that would have required Nigeria to pay $11 billion over a failed gas project, finding the contract was obtained through fraud.
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