$9.6bn Judgment Debt: UK Court Stays Execution Against Nigeria - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 2
September 27, 2019
UKCommercial Court has granted Nigeria a stay of execution of the nine point sixbillion dollar judgment debt made against the country over a botched gascontract.
Astatement on the Court’s decision in London was made available to newsmen inAbuja by the office of the Minister of Information and Culture, Lai Mohammed.
Inthe statement, the Minister of Justice and Attorney-General of the FederationAbubakar Malami, SAN said he was happy with the court’s decision.
TheUK Commercial Court granted the Federal Government of Nigeria’s request forleave to appeal, enabling the Government to appeal the Court’s recognition ofthe UK Arbitration Tribunal in the UK Court of Appeal.
TheCourt had in a ruling on August 16 authorised , a littleknown Irish engineering and project management company, Process and IndustrialDevelopments Limited, P&ID to seize the nine point six billion dollars,about three point five  trillion naira in Nigerian assets over the failedcontract.