A court in the United Kingdom has ordered Process & Industrial Developments (P&ID) Limited to pay Nigeria £20 million in damages and compensation following its victory in a $11 billion judgment debt heard in October 2023.
The court ordered that the money be given to Nigeria within the next 28 days.
The award of £20 million in damages was revealed during a subsequent ruling on the subject in London to determine what happened after the October ruling.
Reports said the hearing was also held to determine whether P&ID would be granted permission to appeal the decision, however, the court denied P&ID’s request to remand the case to arbitration.
It contended that the company’s conduct during the process was heinous, thus the judgment.
Nigeria had sued P&ID for at least £20 million in damages and legal fees but obtained significant relief in October when the UK court released it from entanglement in the $11 billion judgment debt previously issued in favour of P&ID Limited.
