Litigation heavyweights Mishcon de Reya and Quinn Emanuel Urquhart & Sullivan are facing off in London’s High Court this week regarding arbitration awards that landed Nigeria with an $11 billion damages bill.
The hearing, which began in London’s Commercial Court on January 23, relates to January 2017, when a London arbitrator found that Nigeria repudiated a gas supply and processing agreement with Process & Industrial Developments Ltd. (P&ID) and awarded $6.6 billion plus 7% interest.
