In a shocking turn of events, a London court stood firm on Thursday, refusing to reconsider an $11 billion arbitration award against Nigeria. The court declared that the colossal award was tainted by an elaborate fraud orchestrated by an oil and gas juggernaut, Process & Industrial Development Ltd. (P&ID), and its legal team.
Nigeria $11B Arbitration Award Set Aside : Unraveling the Fraud
Judge Robin Knowles of the High Court pronounced the fraudulent conduct by P&ID and its lawyers as one of the most egregious cases. The judge asserted that the extent of the deception left “no real prospect of justice being done by the tribunal.”
Depths of Deception
The court’s decision, back in October, highlighted the oil and gas company’s bribery of a former government official to secure favorable contract terms for a natural gas refinery and electricity generating project in 2017. Furthermore, P&ID’s legal team, including Trevor Burke KC and commercial solicitor Seamus Andrew, was found guilty of concealing privileged information.
Nigeria $11B Arbitration Award Set Aside : The Tribunal’s Decree
Judge Knowles emphasized that the fraud led the tribunal to order Nigeria to pay P&ID for lost profits based on “foundations that were false.” The initial award of $6.6 billion in 2017 had ballooned to over $11.1 billion by the start of the trial in March 2023.
Collusion Exposed
After an exhaustive eight-week trial, the judge unveiled that P&ID’s co-founder, Michael Quinn, had bribed a Nigerian official during negotiations and arbitration. The legal team, Burke and Andrew, had access to privileged documents, influencing Nigeria’s litigation strategy and exposing P&ID’s deceit about the bribery.
Nigeria $11B Arbitration Award Set Aside : Burden of Lies
Burke, who stood to gain $825 million, and Andrew, set to receive $3 billion, were accused of compromising their integrity for a “pot of gold.” Judge Knowles denounced Burke’s testimony, stating that he lied to the tribunal about investigating the document theft. Both individuals will face scrutiny from their legal regulators.
Historic Victory for Nigeria
A spokesperson for the Federal Republic of Nigeria hailed the court’s decision as a “historic victory for the people of Nigeria.” The ruling marks the end of a prolonged saga and sends a stern warning to those contemplating fraud against the Nigerian people.
