Justice Robin Knowles of the Commercial Courts of England and Wales halted enforcement of a $11 billion Process & Industrial Developments (P&ID) Limited arbitration award against Nigeria. According to the judge, the company’s award against Nigeria was obtained by fraud. The Nigerian side argued that there was enough evidence that the contract and the arbitration award were procured by fraud. In particular, the judge concluded that P&ID obtained the award by practicing the most severe abuses of arbitral process. Based on this new evidence, Nigeria filed fraud challenges against P&ID but the company has failed to respond to the charges.

Source: The Guardian October 24, 2023 15:42 UTC