Contract Violation: Nigeria vows to resist enforcement of N3.2 trillion judgement after British court ruling
Nigeria, Aug. 16 -- The Nigerian government said on Friday that it is considering all available options to resist the decision of a British court to grant enforcement right to an $8.9billion (about N3.2 trillion) arbitral award against the country.
The United Kingdom, Business & Property Courts (the Commercial Court), presided by Justice Butcher granted P&ID's enforcement request to enforce a March 20, 2013 award against Nigeria by a District Circuit Court in Washington DC.
Friday's award converts the arbitration award into a domestic UK judgment against Nigeria.
The initial award of $6.6 billion as damages was in favour of a British engineering firm, Process & Industrial Development Limited (P&ID), which accused the Nigerian governmen...
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