kirkwood:
If this money is ever paid, P & ID will be 6.5 times richer than Seychelles, and 4.6 times richer than the richest company in Africa.

Will it be paid?

The court has simply enforced the arbitral award under the initial arbitration proceedings.

It is one of the easiest judgement to be executed. Place a lien on Nigeria's foreign reserves, attaching the order of court. Once processed, money gone. No need to get the Nigerian government's approval.

This amount could comfortably have been spent on our educational sector, to upgrade the schools and research centres.

Appeal
What are you appealing against? Court's hands are tied in matters of arbitration, except where fraud is involved. English courts are not Nigerian courts. You can't bend them.

The best deal is to negotiate, but I can't see Nigeria paying below 3 billion dollars, which in any case would still be over 1 trillion naira.

Just my thoughts too.
These people already have judgment. If I sue you and you do not appear in court and I get summerily judgment. The better and easier for me. The time for appeal elapsed and you did not appeal?
The truth is that we can only negotiate with them. This is not a matter of morality or emotions. This government should have acted when they agreed on 850m but alas it not.
The faster we come to an agreement the better for us to avoid them enforcing judgment.
Meanwhile if you have any substantial cash, better change it to usd. Before buhari's incompetence on this matter makes $1=1000 naira.

Lexusgs430:

Ask yourself this..... If this judgement meant nothing to our assets, why has the FG decided to sit and stand up?......

Because the government has the commonsense not to fall into the trap set for it. It seeks to approach issues from a position of strength. Or do you fight sitting down?

You should ask yourself why the son of the deceased thief is seeking settlement after rebuffing initial offers of settlement.

Chimookigwe:


This same company took this same matter to the US, they got judgement. Nigeria appealed and the judgment was set aside.

They won't get a farthing from Nigeria.

Why is Nigeria probing now? Don't forget, once a judgement is issued by a UK Court, if no appeal is tendered..... They would just place a charge on assets and secure (FG would have no say).......

Don't forget this assets are domiciled within their jurisdiction.....

Oga, i never chop..... Don't exhaust the last akpu wey dey my fingers....... I beg you.... Biko....

Lexusgs430:


Appeal is the next stage nah.... Stop arguing blindly.... The FG messed up big time, by not according this suit the importance it truly deserved......

After judgement was secured, they are now running like headless chickens.......

You argue like someone who is impervious to facts.

Cry all you want, the FG would win on Appeal like they did in the US. Then, you can join the idiots to reinsitute in Guinea Bissau or Guam.

YoungB1a:
I don't even understand what d f**k they are talking about...

It requires intelligence to understand it. Go and watch bbnaija, you will understand that better.

Lexusgs430:


Why is Nigeria probing now? Don't forget, once a judgement is issued by a UK Court, if no appeal is tendered..... They would just place a charge on assets and secure (FG would have no say).......

Don't forget this assets are domiciled within their jurisdiction.....

Oga, i never chop..... Don't exhaust the last akpu wey dey my fingers....... I beg you.... Biko....

Not on foreign assets. The rule in foreign assets state that such foreign assets cannot be secured without the consent of the foreign country.

Do you want me to show you this?

Chimookigwe:


Because the government has the commonsense not to fall into the trap set for it. It seeks to approach issues from a position of strength. Or do you fight sitting down?

You should ask yourself why the son of the deceased thief is seeking settlement after rebuffing initial offers of settlement.

But this so called thief, has an agreement, which the FG breached.......

When you have a deal of $2,000,000, and they are wiling to offer a compensation of $4K...... Would you accept it?

Figures strictly for reference, but emphasis on the financial point........

Chimookigwe:


Not on foreign assets. The rule in foreign assets state that such foreign assets cannot be secured without the consent of the foreign country.

Do you want me to show you this?

Are you privy to the whole statements of judgement?...

baby124:
No negotiation. P&ID lied to a court and claimed they spent $40m. Which is the basis of this lawsuit. Let’s not even talk about the other various scams that they had used to scam Nigeria. They woke up a sleeping giant and they will pay the price. Nigeria needs to sue them ruthlessly for contract scams in the past and the cost of arbitration based on a pure lie. No body who was authorized signed that contract, so it’s a fraud and they should be sued on that too. Both criminal liability and civil liability. No running away now. So, this joker expects Nigeria to come and meet him in Spain to negotiate. Why not come to Nigeria? What is he afraid of? Arrest?

The time for Nigeria to come to court to prove it was fraud was there. Nigeria did not turn up. They got judgement. The time to appeal came and passed. Nigeria did not appeal. This is not matter of emotions but law.

Chimookigwe:


You argue like someone who is impervious to facts.

Cry all you want, the FG would win on Appeal like they did in the US. Then, you can join the idiots to reinsitute in Guinea Bissau or Guam.

We await the judgment on appeal, hopefully we would meet when that thread is opened..........

Chimookigwe:


This same company took this same matter to the US, they got judgement. Nigeria appealed and the judgment was set aside.

They won't get a farthing from Nigeria.

We all know that Nigeria is in no position to pay anyone $9b .

However, if the case is not settled , a lien can indeed be enforced on Nigeria's assets in the UK and EU.
Now, with lien of $9b , how would Nigeria be able to offer Eurobonds and tap into international credit markets ?
Nigeria's Credit Rating would definitely be downgraded to below junk status. This means that we would have to pay higher interest rates on existing loans and future loans.

So my friend, down the road, Nigeria will pay one way or another.

bendike:

The time for Nigeria to come to court to prove it was fraud was there. Nigeria did not turn up. They got judgement. The time to appeal came and passed. Nigeria did not appeal. This is not matter of emotions but law.

Oga, shout louder..... So those at the back can hear..... I mentioned this point earlier......

Lexusgs430:


But this so called thief, has an agreement, which the FG breached.......

When you have a deal of $2,000,000, and they are wiling to offer a compensation of $4K...... Would you accept it?

Figures strictly for reference, but emphasis on the financial point........

The problem they have is not just just of performance, but Nigeria is not introducing the defence of fraud by the company which is dangerous for the company.

The UK would be forced to investigate and the promoters of the company would be in trouble. They are facing pressure from their backers and that's why they are suing for settlement.

TY Danjuma lent the company 40M USD, what was their collateral for the loan? Equity, interests, percentage of profits?

Those who have facts are already removing themselves from the company, don't be more Catholic than the Pope.

Lexusgs430:

Are you privy to the whole statements of judgement?...

If you don't know, say you don't know let me clear your doubt.

Do you know the rule that judgements against foreign countries can't be enforced without the consent of such foreign countries? Yes or No

This present government is in no way good to the image of the country, the life of Nigerians and the unfortunate ignorant youths of Nigeria.

I thought when they voted him into power with all the loud noise and rigging, he would come to change things as people spoke in the many streets I visited before I ran to Canada.

Today reading the unfortunate demeaning stories of the country Nigeria, I weep

plaetton:


We all know that Nigeria is in no position to pay anyone $9b .

However, if the case is not settled , a lien can indeed be enforced on Nigeria's assets in the UK and EU.
Now, with lien of $9b , how would Nigeria be able to offer Eurobonds and tap into international credit markets ?
Nigeria's Credit Rating would definitely be downgraded to below junk status. This means that we would have to pay higher interest rates on existing loans and future loans.

So my friend, down the road, Nigeria will pay one way or another.

You're working with the assumption that P&ID would win on Appeal. They won on trial just like now but lost on Appeal in the US before coming to reinstitute in the UK.

Let me even ask you, do you know why they lost on Appeal in the US?

You should bring legal arguments to legal matters, not imaginary scenarios.

afrika:
This present government is in no way good to the image of the country, the life of Nigerians and the unfortunate ignorant youths of Nigeria.

I thought when they voted him into power with all the loud noise and rigging, he would come to change things as people spoke in the many streets I visited before I ran to Canada.

Today reading the unfortunate demeaning stories of the country Nigeria, I weep

Bia, carry your sad tales to the side. No time for stupid and foolish talk here.
People with sense are arguing here.

Chimookigwe:


The problem they have is not just just of performance, but Nigeria is not introducing the defence of fraud by the company which is dangerous for the company.

The UK would be forced to investigate and the promoters of the company would be in trouble. They are facing pressure from their backers and that's why they are suing for settlement.

TY Danjuma lent the company 40M USD, what was their collateral for the loan? Equity, interests, percentage of profits?

Those who have facts are already removing themselves from the company, don't be more Catholic than the Pope.

This Nigeria should have prepared, in their personal statement to the court....

But Nigeria simply paid no credence to the initial trial.... Judgement was awarded against them, they are now screaming foul play.... Abi nah fowl play......


When it's time ti retrieve abacha's loot, they seek legal advice and engage legal services.....

Time to defend national integrity and assets, i bet they decided to pray....... Sinners carrying religion for head like a pope or Imam.........

Chimookigwe:


If you don't know, say you don't know let me clear your doubt.

Do you know the rule that judgements against foreign countries can't be enforced without the consent of such foreign countries? Yes or No

I asked if you have a copy of the judgement?....? Yes or No

Lexusgs430:

This Nigeria should have prepared, in their personal statement to the court....

But Nigeria simply paid no credence to the initial trial.... Judgement was awarded against them, they are now screaming foul play.... Abi nah fowl play......

When it's time ti retrieve abacha's loot, they seek legal advice and engage legal services.....

Time to defend national integrity and assets, i bet they decided to pray....... Sinners carrying religion for head like a pope or Imam.........

Well, I won't dispute some of your points as the FG already has culpability by virtue of its delay.

However, the company is forum-shopping because of its earlier defeat.

Chimookigwe:


The problem they have is not just just of performance, but Nigeria is not introducing the defence of fraud by the company which is dangerous for the company.

The UK would be forced to investigate and the promoters of the company would be in trouble. They are facing pressure from their backers and that's why they are suing for settlement.

TY Danjuma lent the company 40M USD, what was their collateral for the loan? Equity, interests, percentage of profits?

Those who have facts are already removing themselves from the company, don't be more Catholic than the Pope.

Mudslinging is a very poor defense at this stage for Nigeria.
This is medicine after death
You try to tarnish your opponents credibility when you're at the initial stages of litigation before a judge or jury.

We definitely expect protracted and very expensive legal fireworks.
But don't forget that the case would be litigated and adjudicated based on UK or European law.

Lexusgs430:


I asked if you have a copy of the judgement?....? Yes or No

Check the relevant rule in the UK here. That's what would sink these clowns.
https://iclg.com/practice-areas/enforcement-of-foreign-judgments-laws-and-regulations/enforcement-of-foreign-judgments-2019

plaetton:


Mudslinging is a very poor defense at this stage for Nigeria.
This is medicine after death
You try to tarnish your opponents credibility when you're at the initial stages of litigation before a judge or jury.

We definitely expect protracted and very expensive legal fireworks.
But don't forget that the case would be litigated and adjudicated based on UK or European law.

Even when you have a previous judgment in your favour and the losers are forum-shopping?

Stop arguing on what you have no knowledge about. Read this link.
https://iclg.com/practice-areas/enforcement-of-foreign-judgments-laws-and-regulations/enforcement-of-foreign-judgments-2019

Chimookigwe:


Well, I won't dispute some of your points as the FG already has culpability by virtue of its delay.

However, the company is forum-shopping because of its earlier defeat.

You are slowly understanding my points, some of them...... Thank you

Chimookigwe:


Check the relevant rule in the UK here. That's what would sink these clowns.
https://iclg.com/practice-areas/enforcement-of-foreign-judgments-laws-and-regulations/enforcement-of-foreign-judgments-2019

A parallel could easily be drawn from Murthy v Sivajothi [1993]

Chimookigwe:


You're working with the assumption that P&ID would win on Appeal. They won on trial just like now but lost on Appeal in the US before coming to reinstitute in the UK.

Let me even ask you, do you know why they lost on Appeal in the US?

You should bring legal arguments to legal matters, not imaginary scenarios.

Neither you nor I can predict what the outcome will be at Appeals.
The fact that I know is that Nigeria, at the present, has a judgement of $9b hanging on her head .
And secondly, by virtue of that first victory, P&ID is standing on a position of strength vs Nigeria.
Therefore, I'm at liberty to say what is the possible downside for Nigeria under the present scenario.

Yours on own position on this matter right now is a 'Hail Mary ' position .

Lexusgs430:


A parallel could easily be drawn from Murthy v Sivajothi [1993]

Did you read the link? No

Read it and see case law on previous matters involving Nigeria.

Chimookigwe:


Check the relevant rule in the UK here. That's what would sink these clowns.
https://iclg.com/practice-areas/enforcement-of-foreign-judgments-laws-and-regulations/enforcement-of-foreign-judgments-2019

Did you read section 6?

To each law, an exclusion clause and caveat would always exist......

Let's leave this battle for barristers and SAN's, to argue in court.....

I would be sipping monkey tail + asun, watching this unfolding drama......

daddytime:
Nigeria don become una highest maga abi?

Thunderrrr

They have insiders working with them and Ngozi Okonjo Iweala mentioned this systematic contract settlement scam in her book.

Chimookigwe:


Did you read the link? No

Read it and see case law on previous matters involving Nigeria.

Yes a skimmed through...... But you agree case precedents, exclusions and caveats, would be argued for
/against.......

Lexusgs430:

Did you read section 6?

To each law, an exclusion clause and caveat would always exist......

Let's leave this battle for barristers and SAN's, to argue in court.....

I would be sipping monkey tail + asun, watching this unfolding drama......

The exclusion in this matter is written assent to the jurisdiction of the Court. P&ID needs to present written evidence and not implied consent.

By the time they start from there, they would start getting sense little by little.