P&ID: Lessons Not Learnt …C0NTINUE READING HERE >>>
Nigeria had successfully won an arbitration challenge to an award granted against it, in favour of P&ID (Process and Industrial Developments Ltd). The arbitration award had grown to about $11 billion. This was after a decade of legal tussle between Nigeria and the hedge fund backed entity P&ID. In his judgement, Sir Robin Knowles CBE stated that P&ID had obtained the award only by “practising the most severe abuses of the arbitral process”.
In response to the judgement, the Nigerian lead…
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