CURRENT REPORT BLOG Justice Robin Knowles of the Commercial Courts of England and Wales has ruled in favor of Nigeria, nullifying an $11 billion arbitration award against Process & Industrial Developments (P&ID) Limited. The judge found that the initial award in favor of P&ID had been fraudulently obtained. The arbitration tribunal had previously ruled in 2017 that Nigeria had breached its contract with P&ID and should pay $6.6 billion in damages, with accumulated interest reaching over $11 billion.
Following the arbitration’s decision, Nigeria appealed against the award’s enforcement, claiming that the contract and award were tainted by fraudulent practices. The court granted Nigeria’s request for relief in September 2020. Justice Knowles concurred that the arbitration awards were procured fraudulently and were contrary to public policy, reinforcing the importance of upholding the rule of law. Further legal proceedings will now determine the court’s next steps in this case.
