Fraud Trial: UK Court Orders P&ID To Make Interim Payment Of £1.5M To Nigeria - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 01
September 11, 2020
The Federal Republic of Nigeria Thursday appeared in the English High Court for a scheduled hearing.
The hearing followed the major victory secured last Friday, allowing it to bring a fraud challenge against a $10 billion arbitration award obtained by P&ID well outside the normal time limits.
In a statement on Thursday, a spokesperson of Attorney General of the Federation said Nigeria will now proceed to a full fraud trial.
The hearing Thursday was held to decide procedural and costs issues relating to the FRN’s applications to challenge the arbitration award and to determine the short term directions to trial.
The sitting Judge of the High Court, Cranston J ordered P&ID to make an interim payment of more than £1.5 million within 21 days to cover legal costs incurred as part of their successful application for the extension of time to challenge the arbitration award and procedural hearing earlier in the year.
A case management conference to determine the full trial window is scheduled to take place after November 2020.