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Top related persons:
Robin Knowles - 3 Bola Tinubu - 2 CNN — - 1 “ - 1 … - 1 ” Knowles - 1 ” - 1 General Lateef Fagbemi - 1
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British Virgin Islands London Nigeria Abuja Nigerian Africa Mozambican Mozambique
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Thomson - 2 CNN - 1 Developments - 1 REUTERS - 1 Monday - 1 London's - 1 Africa's - 1 ID's - 1

Search resuls for: "Robin Knowles"


5 mentions found


☆ Nigeria escapes $11 billion bill after UK court rules over failed gas project
  + stars: | 2023-10-24 | by ( Nimi Princewill | ) edition.cnn.com   time to read: +2 min
CNN —Nigeria’s government is celebrating a “landmark victory” after a UK court ruled it was not liable for a multibillion-dollar payout earlier awarded to a private firm over a failed gas project. The company had sued for compensation over lost profits following the collapse of a 20-year deal with Nigerian authorities in 2010 to build a gas processing facility. The awarded sum and accumulated interest had now exceeded $11 billion, nearly half of Nigeria’s federal budget for this year. Disagreements after both parties blamed each other for defaulting on obligations led to the failed deal and sparked a lengthy legal battle. Lawyers for the Nigerian government had argued that P&ID induced the country’s officials with bribes for the contract to be awarded to the firm.
Persons: CNN —, Robin Knowles, “, …, ” Knowles, ”, General Lateef Fagbemi, Bola Tinubu, Knowles ’ Organizations: CNN, Developments Locations: British Virgin Islands, London, Nigeria
☆ Nigeria wins bid to overturn $11 bln damages for collapsed gas deal
  + stars: | 2023-10-23 | by ( Sam Tobin | ) www.reuters.com   time to read: +4 min
Nigeria's President Bola Tinubu looks on after his swearing-in ceremony in Abuja, Nigeria May 29, 2023. The sum had since swelled with interest to over $11 billion, representing 10 times the country's 2019 health budget. The judge said a further hearing would take place to decide whether to send the case back to arbitration or ditch the $11 billion award without further delay. Both received confidential Nigerian documents during the arbitration that they knew they were not entitled to see, the judge found. Additional reporting by Felix Onuah in Abuja, Editing by Estelle Shirbon and David EvansOur Standards: The Thomson Reuters Trust Principles.
Persons: Bola Tinubu, Temilade, Tinubu, Robin Knowles, Knowles, Nigeria's, Trevor Burke, Seamus Andrew, Burke, Andrew, Felix Onuah, Estelle Shirbon, David Evans Organizations: REUTERS, Monday, London's, Africa's, ID's, Thomson, & $ Locations: Abuja, Nigeria, British Virgin Islands, Nigerian, Africa
☆ Mozambique "tuna bond" case against Credit Suisse can proceed, UK judge rules
  + stars: | 2023-07-03 | by ( Kirstin Ridley | ) www.reuters.com   time to read: +3 min
But he warned: "At trial, all alternatives, including to strike out and in whole or in part, remain available." Credit Suisse, UAE-Lebanese Privinvest and others argued that a lack of "adequate" disclosure jeopardised a fair trial. Under English litigation rules, each party has to disclose documents on which they rely for their case, those that might damage their own case and those that support the case of others. A spokesperson for Credit Suisse said the bank noted the judgment and "continues to defend itself". Credit Suisse agreed to pay about $475 million to British and U.S. authorities in 2021 to resolve bribery and fraud charges and has pledged to forgive $200 million of debt owed by Mozambique.
Persons: Robin Knowles, SISE, Privinvest, Kirstin Ridley, Rachel Savage, Sam Tobin, Conor Humphries Organizations: Credit Suisse, Privinvest, International Monetary Fund, Mozambican, UBS, Lawyers, Thomson Locations: London, Mozambican, Mozambique, UAE, Lebanese, Swiss, U.S, United States
☆ Mozambique ordered to open files in Credit Suisse, Privinvest 'tuna bond' case
  + stars: | 2023-03-03 | by ( Kirstin Ridley Rachel Savage | Kirstin Ridley | Rachel Savage | ) www.reuters.com   time to read: +3 min
The tuna bond or "hidden debt" scandal, one of Africa's most high-profile corruption cases of recent years, has triggered a spate of litigation from Maputo to Washington. But the London case could establish whether one of the world's poorest countries can secure compensation and restitution. Credit Suisse, Privinvest and others had called for the complex case of claim and counter-claim to be nixed if Mozambique fails to provide "adequate" disclosure within one month of any court order. Mozambique's attorney general has said that state secrecy prevents some documents from being disclosed. Privinvest has said it delivered on all of its obligations under the contracts and any payments it made were legal under Mozambican law.
☆ British crime agency recovers $65 mln of suspect money in Barclays accounts
  + stars: | 2022-11-25 | by ( Sam Tobin | ) www.reuters.com   time to read: +1 min
LONDON, Nov 25 (Reuters) - Britain's National Crime Agency (NCA) on Friday obtained a civil recovery order relating to nearly 54 million pounds ($65 million) of suspected criminal property held in accounts with Barclays (BARC.L). The NCA's lawyers told London's High Court that the money is likely "the proceeds of unlawful conduct", a view shared by Barclays which first approached the agency about the money. Judge Robin Knowles said he was prepared to make the civil recovery order "without hesitation". The NCA said that the case was "a great example of how the public and private sector can work together to recover proceeds of crime". "The proactive identification of these funds by Barclays was the reason we could take this action," said Adrian Searle, director of the National Economic Crime Centre within the NCA.
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