Privinvest Forces $2B Mozambique Fraud Suit To Arbitration
By Richard Crump (March 11, 2021, 3:07 PM GMT) -- A London appeals court has halted Mozambique's lawsuit accusing an Abu Dhabi-based shipbuilder of bribing government officials to secure contracts in a $2 billion corruption scandal, ruling on Thursday that the claim belonged in arbitration in Switzerland.
Mozambique's claims against an Abu Dhabi shipbuilder belong in arbitration in Switzerland, the Court of Appeal in London has ruled. (iStock) The Court of Appeal held that Mozambique's claims against Privinvest Shipbuilding SAL are bound by arbitration agreements in three contracts governing a series of tuna fishing, maritime security and shipbuilding projects in the southeast African country that are at the heart of the...
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