The final appeal of Process and Industrial Development (P&ID) against Nigeria in an eleven-billion-dollar arbitration case has been dismissed. The London High Court upheld its decision from October, halting the enforcement of damages due to a failed gas processing project.
The court ruled that P&ID, a British Virgin Islands-based company, engaged in bribery with a Nigerian oil ministry official during a gas contract signed in 2010 and failed to disclose this in arbitration against Nigeria.
Judge Robin Knowles rejected P&ID’s plea for the case to return to arbitration and affirmed the dismissal of the damages award.
The judge found the $11bn award obtained by P&ID against Nigeria was fraudulently obtained, noting bribery and illegal possession of privileged Nigerian legal documents during arbitration hearings.
Despite P&ID’s arguments that the documents played no role in their initial arbitration victory, the court refused permission to appeal, preventing P&ID from applying to the Court of Appeal.
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