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A US court has reversed its decision to compel discovery from a London-based hedge fund, finding Nigeria had misled the court by using evidence obtained in similar proceedings for a bid to set aside a US$10 billion award.
11 November 2020
Italian energy company Eni has launched an ICSID arbitration against Nigeria in response to the state’s allegations that its US$1 billion purchase of an oil prospecting licence was the product of corruption.
08 October 2020
The Commercial Court in London has ordered the release of US$200 million that Nigeria paid in security as it challenges a US$10 billion award over a failed gas deal, after recently finding the state has a strong prima facie case that the arbitration and the contract were tainted by corruption.
29 September 2020
The Commercial Court in London has ruled that Nigeria can pursue a late challenge to a US$10 billion award over a failed gas project, ruling there is a “strong prima facie case” that it was tainted by corruption, perjury and dishonest conduct.
04 September 2020
The Nigerian National Petroleum Corporation (NNPC) has agreed preliminary settlement terms for a long-running tax dispute with two investors in an offshore oil and gas block that gave rise to a pair of under-the-radar arbitrations.
20 August 2020
A US district court must first hear Nigeria’s sovereign immunity defence before ruling on an oil and gas company’s bid to enforce an almost US$10 billion award against the state, following a decision by an appeals court in Washington, DC.
22 June 2020
The operator of a Nigerian port terminal says it has settled a dispute with the country’s ports authority that gave rise to an ICC arbitration potentially worth “hundreds of millions of dollars”.
05 June 2020
20 April 2020
27 January 2020
A British Virgin Islands company that won a US$9.6 billion award against Nigeria over a failed gas-refining deal has been ordered to forfeit its local assets after two former employees pleaded guilty to fraud and tax evasion charges, in what the award creditor has called a “sham trial”.
23 September 2019
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