Originally from Alternatives to the High Cost of Litigation

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The case of Nigeria v. Process & Industrial Developments Ltd., [2023] EWHC 2638 (Comm) (Oct. 23, 2023) (available at https://bit.ly/3N6kMfC), continues to establish new standards for international arbitration and investor-state dispute resolution.

There’s a big aftermath, beyond the elimination of an arbitration award that had increased with interest to a report $11 billion. The scope of perjury involved in the arbitration has come under scrutiny. The key questions included whether it constitutes perjury when a party purposefully misleads the court by knowingly omitting substantial facts that would form a crucial foundation for a decision against it, or fails to disclose information that would not support its position.

The October 2023 judgment cited and linked above by Hon. Mr. Justice Robin Knowles, CBE, reviewed a challenge by Nigeria under Section 68 of the U.K. Arbitration Act 1996 to arbitration awards made in favor of consulting firm P&ID.