Nigeria Wins More Time To Appeal $10B Arbitration Award
Law360, London (September 4, 2020, 6:02 PM BST) -- London's High Court on Friday gave Nigeria more time to appeal in a $10 billion arbitration case linked to a collapsed gas project, although the judge did not specify the length of the extension in the long-running dispute.
The decision gives the country an extension to pursue allegations that fraud was involved in the deal underlying the $6.6 billion award Process and Industrial Developments Ltd. won from a three-person arbitration tribunal in 2017 over a nixed natural gas refinery and electricity generating project. The award has been accruing interest and now stands at $10 billion.
At a two-day hearing before the...
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