December 22, (THEWILL) – An attempt by Process and Industrial Development (P&ID) Limited, to overturn the October 23 judgement, which quashed an arbitration order on Nigeria to pay a total of $11 billion in damages for a failed contract, has again been lost following the refusal of the British High Court to admit its appeal.
THEWILL reports that the Business and Property Courts of England and Wales, London, had in a judgement delivered on October 23, by Justice Robin Knowles, held that the British Virgin Islands-based company fraudulently secured a gas contract from Nigeria.
The High Court had held that P&ID paid bribes to a Nigerian oil ministry official to secure the contract and also failed to disclose the bribery when it later took Nigeria to arbitration.
Following the judgement, P&ID had attempted to revive their claims through fresh arbitration. The company had approached the London High Court seeking approval for fresh arbitration to revive their claims against Nigeria for alleged breach of a 2010 gas supply agreement.
Presiding over the fresh appeal on Thursday, Judge Robin Knowles, rejected P&ID’s argument that the case should be returned for arbitration. Knowles ruled that the arbitration could not proceed as long as the 2023 judgement remained in place.
Knowles further held that the award against Nigeria by the company was obtained by fraud. According to the Judge, P&ID was illegally in possession of Nigeria’s privileged legal documents during the arbitration hearings.
The court, however, noted that P&ID could apply directly to the Court of Appeal.
Earlier this month, Knowles ordered P&ID to pay the Nigerian government £20 million in damages and compensation for the fraudulent contract.
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