The country’s victory brings to an end the legal battle which has been ongoing since 2017 when Nigeria was ordered to pay $6.6bn to P&ID with interest starting from May 2013READ ALSO:The judgement by Justice Robin St John Knowles of the United Kingdom Commercial Court today, found that the award had been obtained by fraud and in a way which was contrary to public policy.
“The judgment handed down today, found that the award had been obtained by fraud and in a way which was contrary to public policy. In particular, the Judge concluded that P&ID obtained the award only by “practising the most severe abuses of the arbitral process”. “In the words of Mark Howard KC, lead counsel for the FRN which the court endorsed, ‘P&ID was exactly the type of entity that was prepared to engage in bribery’, to achieve its aims – to undermine the administration of justice in Nigeria in the pursuit of, ‘riches beyond the dreams of avarice’.
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