Region: Nigeria
P&ID v Nigeria: reactions
Practitioners have been reacting to the landmark decision by the Commercial Court in London to set aside a US$11 billion award against Nigeria on grounds of fraud – reflecting on its impact and asking whether there are lessons to be learned.
27 October 2023
“The most severe abuses of the arbitral process”: UK court overturns mega-award on grounds of fraud
A UK judge has raised serious concerns about the supervision of large arbitrations involving states after finding that an US$11 billion award against Nigeria was procured through false evidence, corrupt payments and improper retention of leaked documents.
23 October 2023
Nigeria too late to invoke state immunity in London
A UK appeal court has affirmed that a judge who granted ex parte enforcement of an investment treaty award against Nigeria did not have to undertake further investigation of sovereign immunity issues in circumstances where the state missed a deadline to challenge the order.
25 July 2023
A closer look at Nigeria’s arbitration law reform
Nigeria has adopted a new arbitration law including reforms on interim measures, mandatory stays and third-party funding. Timi Balogun, Letizia Ceccarelli, Hoda Ghassabian and Lorenzo Poggi of Squire Patton Boggs consider the changes and argue the new law will enhance the country’s position as an arbitral hub.
23 June 2023
Nigerian young group launches in Lagos
A group of Nigerian arbitration lawyers has launched a young members group on the sidelines of the seventh ICC Africa Arbitration Conference.
20 June 2023
Korean state oil company brings claim against Nigeria
South Korea’s national oil company has lodged an ICSID claim against Nigeria over an oil and gas enterprise.
09 June 2023
Eni gets final injunction against Nigerian partner
Eni has won a final anti-suit injunction in the UK against its local partner in a Nigerian oil block following a US$200 million ICC arbitration – as three NGOs are permitted to weigh in on corruption issues in an unrelated ICSID case.
08 March 2023
Nigeria fails to undo UK recognition of power plant award
The Commercial Court in London has upheld the recognition of an UNCITRAL award against Nigeria issued six years ago in a dispute over a US$200 million power privatisation.
06 March 2023
Nigeria’s sovereign immunity defence fails in DC
A US court has rejected Nigeria’s jurisdictional objections to the enforcement of a US$70 million investment treaty award won by a Chinese investor over a joint venture to develop a free trade zone, dismissing the state’s arguments based on sovereign immunity.
30 January 2023