$11bn Judgement Debt: Court Awards £20m Damages in Favour of Nigeria, against P&ID

*Issues 28-day deadline for payment

A United Kingdom court yesterday directed Process & Industrial Developments (P&ID) Limited to pay Nigeria £20 million as damages and compensation following the country’s victory in an $11 billion judgment debt which was heard in October.
The said sum must be paid to Nigeria in the next 28 days.

The award of the £20 million as damages was disclosed during a consequential ruling on the matter that took place in London, yesterday, to find out what next after the October ruling.

According to Arise News Channel, a THISDAY sister broadcast station, yesterday’s hearing was also to find out if P&ID would be given permission to appeal the case.
“The court refused to grant P&ID permission to take the matter back to arbitration, saying that the company’s conduct during the process was reprehensible and therefore it completely set aside the $11 billion judgment.

“Nigeria was seeking at least £20 million back from P&ID to cover its damages and legal fees. Essentially, what P&ID lawyers were trying to do was to try and limit the amount it would pay to Nigeria as damages and they fought hard to see if it would be in naira. But the court ruled that they must pay £20 million to Nigeria and it must come in 28 days. Then came the request for appeal. Their request for appeal on the currency at which they were going to pay Nigeria was also denied. So, in 28 days, P&ID must pay Nigeria at least 20 million pounds,” Arise News Channel reported.
Nigeria had in October, received great relief as the UK court set the country from its entanglement in the $11bn judgment debt previously awarded in favour of P&ID Limited.

In a judgment delivered by Justice Robin Knowles of the Commercial Courts of England and Wales, in the case between the Federal Government of Nigeria and P&ID, the court had upheld Nigeria’s prayer that the gas processing contract was obtained by fraud.

In the judgment delivered after five years of legal battle, Judge Knowles had said: “In the circumstances and the reasons I have sought to describe and explain, Nigeria succeeds on its challenge under section 68. I have not accepted all of Nigeria’s allegations. But the awards were obtained by fraud and the awards were and the way in which they were procured was contrary to public policy.

“What happened in this case is very serious indeed, and it is important that Section 68 has been available to maintain the rule of law.
Citing Section 68 (3), Judge Knowles said: “ ‘(3) If there is shown to be serious irregularity affecting the tribunal, the proceedings or the award, the court may – (a) remit the award to the tribunal, in whole or in part, or (c) declare the award to be of no effect, in the whole or in part. The court shall not exercise its power to set aside or to declare an award to be of no effect, in whole or in part, unless it is satisfied that it would be inappropriate to remit the matters in question to the tribunal for reconsideration.’

“I was asked by Lord Wolfson KC in closing that should my judgment conclude in favour of Nigeria, as it does, to leave over the question of the order the court should make so that the parties have the opportunity to present argument once they have considered the judgment. I respect and will hear that argument as soon as that can be arranged.”
Recall that P&ID had agreed with Nigeria in 2010 to build a gas processing plant in Calabar, Cross River State, but the company said the deal collapsed because the Nigerian government did not fulfil its end of the bargain.

Claiming Nigeria breached the terms of the contract, P&ID took a legal recourse and secured an arbitral award against the country.

https://www.thisdaylive.com/index.php/2023/12/09/11bn-judgement-debt-court-awards-20m-damages-in-favour-of-nigeria-against-pid?amp=1

What happened to the people that sabotaged the country in that case, I mean Ex CJN

Wow .
Nigeria went from having lost the case and being ordered to pay $11 bn , to winning the case , having the judgement debt set aside and being awarded $20m in compensatory costs.


Not only has the company P& D lost this case and will pay $20m , their investor is also suing them. They took money from an investment firm to finance the lawsuits believing they’ll win and give the investor some share of the money they’ll collect from Nigeria

Now they have lost the case , investor is suing them to return the money and also pay damages and the profit they were promised

Either way , lawyers are just cashing out steadily

Another Sheriff is in town

I want to sincerely appreciate the London courts for being very honorable in the discharge of their duties,also a word of mention to the former Vice president His Excellency Prof. Yemi Osinbajo.
This case had the capacity to decapitate our foreign reserves as this people were already ready to place a garnishee order on it.
When I tell people that Nigerias biggest problem is Nigerians,this story aptly captures it perfectly
Some criminally minded Nigerians sold their country for a pot of porridge or better still 30 pieces of silver and didn't know that the so called investors they were dealing with already planned how to collect billions of dollars from the chicken change they gave them
I believe all civil servants and government officials would have learnt a bitter lesson from this experience,that not all that glitters is gold
Meanwhile sales are still ongoing in our Christmas and End of year promo in all our estates,click the link below for details
https://www.nairaland.com/7926530/christmas-end-year-promo-silvergate#127237817

Damnnn niggar
Isoright

I love what happened in this case of P&ID. It is a lesson for both Nigeria, leaders entrusted with authority and those multinational who are here to manipulate our weak system. It wouldn't surprise me if the outcome of this case is what is making some multinational companies to vacate because of the fear of prosecution/persecution for system manipulation.

Companies coming to Nigeria, Nigerians in position of authority and the country Nigeria should have good intention, walk the right path to avoid a repeat of this scenario.

Children of hate will have a bad day today


They hate any good news about the country

More money

Great!

This is approximately N27bn. I wish government can just invest this directly into either education or health. We don't want a situation the funds gets looted just like the repatriated abacha's loots

BitterTruth0001:
Wow .
Nigeria went from having lost the case and being ordered to pay $11 bn , to winning the case , having the judgement debt set aside and being awarded $20m in compensatory costs.


Not only has the company P& D lost this case and will pay $20m , their investor is also suing them. They took money from an investment firm to finance the lawsuits believing they’ll win and give the investor some share of the money they’ll collect from Nigeria

Now they have lost the case , investor is suing them to return the money and also pay damages and the profit they were promised

Either way , lawyers are just cashing out steadily

The damage that agbado and aboki have done to Nigeria is unbelieable! No be that serial scammers Jimi lawal and Lanre whatever is his name that perpetrated this scam

BitterTruth0001:
Wow .
Nigeria went from having lost the case and being ordered to pay $11 bn , to winning the case , having the judgement debt set aside and being awarded $20m in compensatory costs.


Not only has the company P& D lost this case and will pay $20m , their investor is also suing them. They took money from an investment firm to finance the lawsuits believing they’ll win and give the investor some share of the money they’ll collect from Nigeria

Now they have lost the case , investor is suing them to return the money and also pay damages and the profit they were promised

Either way , lawyers are just cashing out steadily

Buhari's administration really tried on this case.

They can now run like the headless chicken that they are!

This thing will pain some people today

The court knew that at present Nigeria was never going to give those crooks any money

P&ID higher NCE lawyer. They must be in pains now.

Islie:
$11bn Judgement Debt: Court Awards £20m Damages in Favour of Nigeria, against P&ID

*Issues 28-day deadline for payment



https://www.thisdaylive.com/index.php/2023/12/09/11bn-judgement-debt-court-awards-20m-damages-in-favour-of-nigeria-against-pid?amp=1

I wish this was just paid 2wards our National debt E for good

Good news for Nigerians
Bad news for haters of Nigeria

Basic123:
Children of hate will have a bad day today


They hate any good news about the country

Your fathers who rule Nigeria led us into this trap of P&ID. You people symbolise HATE itself having led 200 million people in Nigeria to poverty since 1960.

Good news for Nigerians
Bad news for haters of Nigeria

Islie:
$11bn Judgement Debt: Court Awards £20m Damages in Favour of Nigeria, against P&ID

*Issues 28-day deadline for payment



https://www.thisdaylive.com/index.php/2023/12/09/11bn-judgement-debt-court-awards-20m-damages-in-favour-of-nigeria-against-pid?amp=1

Won't it be appealed

Islie:
$11bn Judgement Debt: Court Awards £20m Damages in Favour of Nigeria, against P&ID

*Issues 28-day deadline for payment



https://www.thisdaylive.com/index.php/2023/12/09/11bn-judgement-debt-court-awards-20m-damages-in-favour-of-nigeria-against-pid?amp=1

This is good news for Nigeria but a bad news for i.pob and arise tv.

They are not expecting anything good but God Almighty is shaming them.

God so much loves Nigeria.

Imagine if we had lost this case! Where are we going to get $11 billion? Oh my God!


Let politicians continue to be politicians and let God be God. Their cup will full one day!

Good news for the patriotic Nigerians and bad news for others.

Abufo:



The damage that agbado and aboki have done to Nigeria is unbelieable! No be that serial scammers Jimi lawal and Lanre whatever is his name that perpetrated this scam

Most annoying is that they brand other Nigerian groups who never ruled Nigeria as hateful.
These people have no senses. Their people ruled and ruined the fortunes of millions of people in Nigeria.

SammystDAnalyst:
Judgement overturned. That's how God will overturn any judgement placed against you in Jesus name. Amen

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