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Irish-founded firm to face Nigeria in hearing

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'It is understood the hearing in the Commercial Court in London will address two threshold issues.' (stock photo)

'It is understood the hearing in the Commercial Court in London will address two threshold issues.' (stock photo)

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'It is understood the hearing in the Commercial Court in London will address two threshold issues.' (stock photo)

Process and Industrial Development (P&ID), an Irish-founded engineering company, is to appear in the English Commercial Court for a threshold hearing with Nigeria regarding a $9.6bn arbitration award.

The latest hearing, which is understood to be taking place on July 13 and 14, is the next legal moment in Nigeria’s ongoing battle with P&ID regarding an agree­ment to build a gas-process­ing plant in the country. Nigeria contends the deal was corrupt. P&ID denies any wrongdoing.

Nigeria’s agreement with P&ID collapsed in 2010, with the company subsequently winning a $6.6bn arbitration award. It has been accruing interest since 2013.