P&ID Delivered Another Blow, Ordered To Pay FG's Legal Fees Of £1.5m Within 21 Days
Things are turning from bad to worse for Process and Industrial Developments (P&ID).
As we know on Friday, Nigeria secured a landmark victory in its pursuit to overturn the $10 billion judgement awarded against it in the case in 2017.
P&ID has now also been ordered to pay the federal government £1.5m to cover legal cost incurred in the case between both parties, according to Abubakar Malami, the attorney-general of the federation (AGF).
The Awareness has confirmed that Judge Ross Cranston ordered P&ID to make an interim payment of more than £1.5 million within 21 days to cover legal costs the FG incurred as part of their successful application for the extension of time to challenge the arbitration award and procedural hearing earlier in the year
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This is a significant blow for P&ID, who more than likely according to the FG will continue to attempt to delay the proceedings.
According to the AGF:
“To date, P&ID and its financial backer, VR Capital, have not produced a single document or credible witness to challenge the FG's fraud evidence.
“Instead, they continue to resort to disseminating misleading claims, while taking every step possible to delay or obstruct our investigations across multiple jurisdictions.
" Nigeria remains committed to overturning “the injustice” of the $10 billion award, and will not rest until it secures justice for the people of Nigeria, no matter how long it takes."
More details as they unfold.
Photo > Courtesy BBC