Region: Nigeria
International Centre for Arbitration & Mediation Abuja (ICAMA)
02 January 2019
US$9 billion Nigeria award triggers quantum discussion at GAR Live
A panel at this year’s GAR Live Energy Disputes in London questioned the quality of damages awards in recent high-value arbitrations, including a US$9 billion award against Nigeria – before being surprised to find that counsel to the claimant in that case was in the audience.
05 October 2018
Mega-award against Nigeria comes to light
A British Virgin Islands company founded by Irish nationals has asked a US court to enforce an award worth nearly US$9 billion against Nigeria and its ministry of petroleum resources over a failed gas-refining project in which it had invested US$40 million.
20 March 2018
No security needed to challenge enforcement under New York Convention, rules UK Supreme Court
The UK Supreme Court has overturned a ruling requiring Nigeria’s national oil company to provide security as a condition of challenging the enforcement of a US$340 million award – in a decision with major consequences for the relationship between the New York Convention and national laws.
01 March 2017
UK Supreme Court hears New York Convention appeal
The UK Supreme Court has heard an appeal by Nigeria’s national oil company against a requirement that it provide security as a condition of challenging the enforcement of a US$340 million award –raising key questions about the interplay of UK procedural law and the New York Convention.
03 February 2017