BREAKING: London court puts final nail in the coffin of P&ID’s $11bn case

A London High Court has put the final nail in the coffin of the $11 billion case filed by Process & Industrial Developments (P&ID) against Nigeria.

TheNewsGuru.com (TNG) reports Judge Robin Knowles on Thursday rejected P&ID’s argument that the case should be returned for arbitration.

In his ruling, Judge Knowles affirmed that the damages award should be thrown out completely.

Recall that P&ID had filed an $11 billion damages case against Nigeria for a collapsed gas processing project.

However, in October the London court presided over by Knowles ruled that the gas processing contract was procured by P&ID paying bribes to a Nigerian oil ministry official.

In Thursday’s ruling, P&ID was also refused permission to appeal against the ruling, effectively ending the case.

The company also cannot apply for permission from the Court of Appeal.