Traditional fishing boats sail as Mozambique's tuna fleet sits in dock beneath Maputo's skyline, in this picture taken August 15, 2015.Mozambique has dropped a significant part of its claim against Emirati-Lebanese shipbuilder Privinvest over the decade-old “tuna bond” scandal, just days after settling its case against Credit Suisse, London’s High Court heard on Thursday.
Court documents filed last month and this week show the country, one of the world’s poorest nations, has most recently been seeking around $830 million for macro economic losses between 2016 and 2018 in relation to the scandal. In a court filing seen by Reuters on Thursday, Mozambique’s legal team said the country had dropped part of its claim against Privinvest because of “proportionality” and concerns about Privinvest’s ability to pay if it were found liable.
Helen Taylor, a legal researcher at pressure group Spotlight on Corruption, called for transparency and for the publication of a full dossier of evidence. Mozambique has alleged it was the victim of a conspiracy and that Privinvest paid bribes to corrupt officials and Credit Suisse bankers, exposing the nation to a potential liability of at least $2 billion.
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