Mozambique’s Case Against Privinvest Heads to Arbitration
- London Court of Appeal rules on dispute over loan guarantees
- Mozambique plans to appeal the decision to move to arbitration
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Mozambique’s dispute with Privinvest Shipbuilding SAL over the nation’s $2 billion hidden-debt scandal should be decided by arbitration, the London Court of Appeal ruled, according to the company.
“This reflects Privinvest’s strongly held view that these claims should never have been brought in the London courts,” Privinvest said in an emailed statement Thursday. “All of Mozambique’s claims against Privinvest must be brought in arbitration.”