Nigeria Says Treaty With US Doesn't Bar $10B Award Fight
Law360 (July 13, 2020, 8:02 PM EDT) -- Nigeria is fighting a Manhattan asset manager's bid to quash an information request tied to alleged bribes underpinning a nearly $10 billion arbitral award, saying the American company can't seek to enforce a treaty that wouldn't bar the action anyway.
On Friday, Nigeria defended its successful bid to pursue the due diligence that VR Advisory Services Ltd. undertook before it acquired a 25% stake in engineering firm Process and Industrial Developments Ltd. The country believes the information could reveal the firm bribed Nigerian officials to secure a lucrative gas supply and processing agreement, which is the basis for a massive $9.8...
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