“Unprecedented” extension of time for Nigeria in US$10bn award set aside application

The Commercial Court has granted the Federal Republic of Nigeria (FRN) a huge extension of time in its dispute with Process and Industrial Developments Limited (P&ID) over the enforcement of a US$6.6 billion arbitration award (now worth US$10 billion with interest).

Related briefings

A breach of international law in a very specific and limited way

By Professor Stefan Talmon Twenty Essex has a proud legacy advising on complex and sensitive public international law mandates. Our barristers include former members and officials of government foreign ministries, international organisations and international courts and tribunals. Professor Stefan Talmon has written an article providing a German perspective on the United Kingdom Internal Market Bill. He explains how […]

Nineteen Eighty-Four: Arbitration room 101?

By Professor Julian DM Lew QC, Catherine Reeves In this sixth edition of Arbitration Classics, Professor Julian DM Lew QC and Catherine Reeves debate arbitrator and counsel bête noire… International arbitration is continually challenged by both academics and practitioners to develop and evolve in the interests of the participating parties. Catherine Reeves asked Professor Lew of Twenty Essex for the benefit […]

Court of Appeal rejects international law challenge to UK decisions on the Chagos Islands

The Court of Appeal (Sir Terence Etherton MR, Green and Dingemans LJJ) has today handed down judgment in conjoined appeals arising from the UK Government’s 2016 decisions: (i) not to support or permit resettlement of the British Indian Ocean Territory (BIOT); and (ii) to provide a support package of approximately £40m over 10 years for Chagossians in the communities in which they now live: R (Hoareau and Bancoult (No.5)) v Secretary of State for Foreign and Commonwealth Affairs [2020] EWCA Civ 1010.

The 2020 oil price rollercoaster

Instability in the price of crude oil has a strong propensity to bring with it contractual and other disputes. In this article David Lewis QC and Oliver Caplin explore a few of the types of disputes that may arise, and recap some of the pertinent English law issues that might be relevant to their resolution.

Latest Briefings

No money-back guarantee – When severance agreements go wrong

By Louise Hall. Sarah Ash, Victoria Pratt, Daniel Read, Niall MacDonald A case in the US courts involving the former CEO of McDonald’s may appear to have very little to offer in the way of lessons for regulated financial services businesses in the Channel Islands. But the case against Steve Easterbrook currently in the Delaware […]

EU recognition of Cayman Islands tax cooperation and removal from Annex I list

By Lucy Frew, Ingrid Pierce, Tim Buckley, Lucy Frew, Anne Dolan The European Union (“EU”) has announced that the Cayman Islands has been removed from Annex I of the EU’s list of non-cooperative jurisdictions for tax purposes (“Annex I”) following a meeting of the EU’s Economic and Financial Affairs Council (“ECOFIN“). The Cayman Islands’ continued […]

Data analysis: How Covid-19 has affected professional services content

By Samuel Page In the last two months, there has been a huge increase in demand for digital content from Professional Services clients. The pressing need for information and advice from professionals has driven the highest traffic, page views and time-spent ever seen across the Passle network. I’m not in the business of saying that […]

New law to scrutinise pre-pack sales in administration

By Andrew Taylor On 8 October 2020, the Government announced new laws for independent scrutiny of pre-pack administration sales where connected parties, such as previous directors, shareholders or associates are involved in the purchase. What is a pre-pack sale? A pre-pack administration sale is a procedure where an insolvent business reaches an agreement to sell […]

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