Tagged:

UK Court Orders Gas Firm To Pay Nigeria U.S.$1.9 Million

A United Kingdom judge has ordered Process & Industrial Developments (P&ID) to make an interim payment of more than £1.5 million (U.S.$1.9 million) to Nigeria within 21 days to cover legal costs the country incurred as part of its successful application for an extension of time to challenge a ruling that the company must pay the country U.S.$9.6 billion. This latest order follows the major victory that Nigeria secured last week when the court allowed it to challenge the arbitration award. In a long-running case, P&ID had sued Nigeria for allegedly breaching the terms of a gas supply and processing agreement contract it reportedly signed in 2010. In January 2017, a UK tribunal ordered Nigeria to pay P&ID the $9.6 billion damages.

InFocus

Pixabay

Judge's gavel.

Follow AllAfrica

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.