Owners of $11 Billion Arbitration Award Against Nigeria Fall Out
- P&ID shareholders in own arbitration dispute: court documents
- Hedge fund started case following fraud finding by UK judge
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The owners of a company the Nigerian government accuses of defrauding its way to an arbitration award worth more than $11 billion have fallen out. A hedge fund has sued the business partners it bought its stake in the firm from, according to court documents.
A subsidiary of VR Capital Group Ltd commenced its own arbitration case against Process & Industrial Development Ltd’s other shareholder and founder in London in September 2020, previously unreported US court filings show.