{"id":108846,"date":"2023-10-23T15:04:43","date_gmt":"2023-10-23T14:04:43","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=108846"},"modified":"2023-10-23T15:04:43","modified_gmt":"2023-10-23T14:04:43","slug":"breaking-nigeria-escapes-as-uk-court-quashes-11bn-pid-award","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/breaking-nigeria-escapes-as-uk-court-quashes-11bn-pid-award\/","title":{"rendered":"BREAKING: Nigeria Escapes as UK Court Quashes $11bn P&#038;ID Award"},"content":{"rendered":"<div dir=\"auto\">After over five years of legal fireworks, Nigeria has finally succeeded in halting the enforcement of the $11 billion arbitration award in favour of P&amp;ID.<\/p>\n<p>In a judgment delivered by email, Justice of the Commercial Courts of England and Wales, Robin Knowles, upheld Nigeria\u2019s prayer on the ground that the ill-fated gas processing contract was obtained by fraud.<\/p>\n<p>A private arbitration tribunal had on January 31, 2017 ordered Nigeria to pay $6.6 billion to P&amp;ID plus interest beginning from March 20, 2013.<\/p>\n<p>With the interest rate fixed at seven percent amounting to $1 million a day, the potential payment had accumulated to over $11 billion before the verdict.<\/p><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>After over five years of legal fireworks, Nigeria has finally succeeded in halting the enforcement of the $11 billion arbitration award in favour of P&amp;ID. In a judgment delivered by&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":108833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-108846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BREAKING: Nigeria Escapes as UK Court Quashes $11bn P&amp;ID Award - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/breaking-nigeria-escapes-as-uk-court-quashes-11bn-pid-award\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BREAKING: Nigeria Escapes as UK Court Quashes $11bn P&amp;ID Award - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"After over five years of legal fireworks, Nigeria has finally succeeded in halting the enforcement of the $11 billion arbitration award in favour of P&amp;ID. In a judgment delivered by&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/breaking-nigeria-escapes-as-uk-court-quashes-11bn-pid-award\/\" \/>\n<meta property=\"og:site_name\" content=\"Pointblank News\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-23T14:04:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/10\/UK-Court-Delivers-Judgment-on-PID.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Our Reporter\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Our Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/breaking-nigeria-escapes-as-uk-court-quashes-11bn-pid-award\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/breaking-nigeria-escapes-as-uk-court-quashes-11bn-pid-award\/\"},\"author\":{\"name\":\"Our Reporter\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"headline\":\"BREAKING: Nigeria Escapes as UK Court Quashes $11bn P&#038;ID Award\",\"datePublished\":\"2023-10-23T14:04:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/breaking-nigeria-escapes-as-uk-court-quashes-11bn-pid-award\/\"},\"wordCount\":116,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/breaking-nigeria-escapes-as-uk-court-quashes-11bn-pid-award\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2023\/10\/UK-Court-Delivers-Judgment-on-PID.jpg\",\"articleSection\":[\"Exclusive\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/exclusive\/breaking-nigeria-escapes-as-uk-court-quashes-11bn-pid-award\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/breaking-nigeria-escapes-as-uk-court-quashes-11bn-pid-award\/\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/breaking-nigeria-escapes-as-uk-court-quashes-11bn-pid-award\/\",\"name\":\"BREAKING: Nigeria Escapes as UK Court Quashes $11bn P&ID Award - 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