Did a British Virgin Islands [BVI] company obtain contracts through bribes
06/05/2023
Nigeria has gone to court to contest the 2017 arbitration ruling –– which, with interest, has now almost doubled to $11 billion –– arguing that it shouldn't have to pay since Process & Industrial Developments Limited (P&ID), registered in the British Virgin Islands, obtained the contract through bribing government officials.
P&ID denies any bribery in the gas contract. A decision is expected within weeks
The co-founder of an offshore firm that won a controversial $6.6 billion arbitration award after arguing that Nigeria failed to fulfil an energy contract HAS ADMITTED in a London court that the company and its affiliates had previously engaged in financial misconduct and deception –– including unexplained payments to senior officials, and falsifying invoices
The case has generated headlines worldwide, but the testimony from the eight-week trial in London sheds unprecedented light on apparent bribery and other questionable business practices by P&ID and its sister company, Industrial Consultants International Limited (ICIL).
Under intense cross-examination by Nigeria’s lawyer, P&ID figures addressed two decades of alleged wrongdoing in the West African nation, including but not limited to the gas dispute.
They testified that employees gained access to privileged government documents, moved undeclared cash across borders, sought to influence a witness, tried to destroy evidence, and did business with individuals they knew to have previously paid bribes.
Read the story here - https://www.occrp.org/en/blog/17598-p-id-scandal-insiders-from-shell-company-embroiled-in-11-billion-corruption-case-admit-misconduct
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.