A Court in London has rejected a $11 billion damage bill instituted by Process & Industrial Developments (P&ID) Limited gas company against Nigeria.
Gatekeepers News reports that the bill charge was brought forward against Nigeria for a collapsed gas processing project in Cross River, Nigeria.
According to Reuters, the court ruled that the gas processing project was procured with a bribe paid to Nigeria oil ministry officials.
In the judgment, Judge Robin Knowles pointed out that P&ID did not disclose the bribery when it proceeded to arbitration against Nigeria.
In a subsequent judgment issued on Thursday, he therefore declared that the damages should be nullified without delay, dismissing P&ID’s claim to return the case to arbitration.
In October the High Court presided over by Judge Robin Knowles ruled that the contract procured by Process & Industrial Developments (P&ID) was through bribery and fraud.
Judge Robin Knowles ordered P&ID to pay Nigerian Government £20 million in damages and compensation.
P&ID had filed for fresh arbitration to revive their claims against Nigeria for alleged breach of a 2010 gas supply agreement.
However, the High Court in London ruled that the arbitration could not proceed as long as the 2023 judgment remained in place.
The judge found that P&ID had paid bribes to Nigerian officials involved in the drafting of the gas supply and processing agreement (GSPA) in 2010.
