The Process and Industrial Development (P&ID) has lost its final appeal against Nigeria in an eleven-billion-dollar arbitration case.
The P&ID sought to overturn an October judgement by a London High Court that halted the enforcement for damages over a failed gas processing project.
Judge Robin Knowles rejected P&ID’s argument that the case should be returned for arbitration and affirmed that the damages award should be thrown out completely.
The judge had found out that P&ID paid bribes to Nigerian officials who were part of the drafting of the gas supply and processing agreement in 2010.
Nigeria had urged the court to set the award aside, saying that some individuals in the case were being tried for money laundering and graft.