The saga of two Irish businessmen, Michael Quinn and Brendan Cahill, who promised to revolutionise Nigeria’s energy sector, will be at the centre of a high court trial early next year. The huge award for the gas company, Process & Industrial Developments (P&ID), is more than 10 times Nigeria’s national health budget. The case has become a cause célèbre in Nigeria where officials now allege the gas deal was corruptly procured and the subsequent arbitration proceedings were “tainted” by claims of collusion. The Nigerian government says after arbitration, P&ID was purchased by Lismore Capital and VR Advisory Ltd, an investment fund. Lismore Capital, a litigation funding firm, is owned by a leading commercial lawyer, Seamus Andrew, who represented P&ID in the arbitration proceedings.

Source: The Guardian July 03, 2022 07:59 UTC