Mozambique is suing Privinvest, its owner Iskandar Safa, Credit Suisse and others over three loans raised in 2013 and 2014, ostensibly to develop its fishing industry.
In the Supreme Court case, Privinvest argued the dispute must be heard in secret arbitration proceedings.
But senior judges unanimously allowed the case to be heard in a lengthy public trial in the High Court, due to begin on Oct. 3.
The judgment validates Mozambique's decision to bring proceedings in the High Court, said Mozambique's London law firm Peters & Peters.
The High Court ruled this month that Nyusi has state immunity.
Persons:
Filipe Jacinto Nyusi, Eduardo Munoz, Privinvest, Iskandar Safa, Peters, Peters & Peters, Safa, corruptly, Filipe Nyusi, Nyusi, Helen Taylor, Kirstin Ridley, Manuel Mucari, William James, Tomasz Janowski, Alexander Smith
Organizations:
General Assembly, REUTERS, Credit Suisse, Peters &, Privinvest, UBS, Mozambican, Corruption, Thomson
Locations:
Mozambique, New York City, U.S, Britain, Court, London, Lebanon, Abu Dhabi, United States, Mozambican, Maputo