11bn P&ID Claim: Nigeria Wins Case Against The Multinational
The Nigerian Government has won its case against Process & Industrial Developments (P&ID) Limited, which sought enforcement of $11 billion debt in its favour some years back. The victory for the Federal Government came after a tuff legal battle with the company after it threatens to seize Nigerian properties abroad to recoup its money. In a remarkable judgement today, A UK court quashed the enforcement of the judgment on the grounds that the contract was obtained in a fraudulent manner.