Mozambique's $2B Bond Fraud Suit To Face Jurisdiction Fight

Law360, London (November 7, 2019, 1:59 PM GMT) -- A shipbuilder told a judge in London on Thursday that it will challenge the court's authority to hear a lawsuit launched by Mozambique over a controversial bond connected to a purported $2 billion fraud scheme, proposing that Swiss arbitration should take precedence. 

David Wolfson QC told Judge Simon Picken at a hearing at the High Court that his client, Abu Dhabi-based Privinvest Shipbuilding, intends to dispute whether the court has jurisdiction over the case.

Mozambique is suing Privinvest and Credit Suisse AG, and several of the Swiss bank's former employees in London, for damages and to void a loan agreement for...

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