UK High Court

London court throws out $6.6bn arbitration award against Nigeria

Issue 494 - 03 Nov 2023 - By Dominic Dudley | 4 minute read

Nigeria has succeeded in overturning a $6.6bn arbitral award made against it in 2017, with the High Court in London ruling the award had been obtained by fraud. The High Court ruled that British Virgin Islands-registered Process and Industrial Development (P&ID) had engaged in “the most severe abuses of the arbitral process” in winning its 2017 case against the Nigerian government over a failed gas supply and processing deal.

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