Politics
Breaking News: P&ID Ordered To Compensate Nigeria £20 Million In Judgment Debt Suit
Breaking News: P&ID Ordered To Compensate Nigeria £20 Million In Judgment Debt Suit....KINDLY READ THE FULL STORY HERE▶
In a recent development, a United Kingdom court has mandated Process & Industrial Developments (P&ID) Limited to pay Nigeria £20 million in damages and compensation. This ruling follows a victory in a judgment debt case amounting to $11 billion that was heard in October 2023. The court specified that the payment must be made to Nigeria within the next 28 days……CONTINUE READING
The revelation of the £20 million damages award occurred during a subsequent ruling in London, aimed at elucidating the proceedings post the October decision. Reports indicate that the hearing also deliberated on whether P&ID would be allowed to appeal the verdict. However, the court dismissed P&ID’s request to refer the case to arbitration, citing the company’s reprehensible conduct during the process as a pivotal factor in the judgment.
Notably, Nigeria had initially sued P&ID for a minimum of £20 million in damages and legal fees. However, in a positive turn of events for Nigeria, the UK court absolved the country from the entanglements of the previously issued $11 billion judgment debt in favor of P&ID Limited.
In the legal dispute between the Federal Government of Nigeria and P&ID, Justice Robin Knowles of the Commercial Courts of England and Wales affirmed Nigeria’s assertion that the gas processing contract was secured through fraudulent means. Following five years of legal battles, Judge Knowles, in the delivered judgment, stated, “In the circumstances and the reasons I have sought to describe and explain, Nigeria succeeds on its challenge under section 68. I have not accepted all of Nigeria’s allegations. But the awards were obtained by fraud and the way they were procured was contrary to public policy.”
Recalling the background, P&ID had been contracted by Nigeria in 2010 to construct a gas processing plant in Calabar, Cross River State. Unfortunately, the deal collapsed due to the Nigerian government’s failure to fulfill its part of the agreement.
Source: Bushradiogist
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