Legality of P&ID $9.6bn award TuesdayThoughts
Justice Christopher Butcher of the high court in London, last week, caused an uproar in Nigeria and beyond when he upheld the court of arbitration’s award of $9.6bn against the country in a case brought by the Process and Industrial Developments Ltd , a company with which the country entered into a contractual relationship in 2010 for processing and refining natural gas convertible into electrical energy and other domestic uses.
Nigeria entered into an agreement with the P&ID to build a “state-of-the-art” gas processing plant to refine natural gas. The company then went ahead to commit several millions of dollars of its own money into the project on the expectation of a windfall from the deal later. In international contract negotiations of this nature, the nuts and bolts of the agreement would be trashed out, including what happens in case of a breach.
Imagine a Champions’ League football final between a UK football team, say, Arsenal and a Spanish football team, say, Barcelona. Then, further imagine that the match is not only being played in Spain, the home turf of the opponent, but is also being refereed by a Spaniard. You can bet your bottom dollar that the UK Football Association would protest and kick a fuss to no end. We can safely say that this scenario would not even be allowed in any event.
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