The Commercial Cast - Nigeria v P&ID
In this episode Duran Ross and Ellen Gracey discuss the landmark judgment in Nigeria v Process and Industrial Developments Ltd where the English Courts overturned a USD 11 billion arbitration award against the government of Nigeria. The decision was hailed as a victory against corruption due to serious irregularities. They discuss how with his decision Mr Justice Knowles sought to provoke debate within the arbitration community regarding the arbitration process and whether it needs further attention. This judgment is set to have a significant impact on the landscape of arbitrations involving a state and serves to highlight the robust safeguards provided by the Act.
This topic has been also discussed in our Perspective.
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