An appeal court in the United States has authorised Zhongshan Fucheng Industrial Investment Co. Ltd. to enforce the $70 million arbitration award it received against Nigeria.
The Appeal Court’s ruling affirmed the judgment of the US district court for the district of Columbia that held that the arbitration award is enforceable.
In January 2023, Beryl Howell, the presiding judge of the lower court, dismissed Nigeria’s argument that the court did not have jurisdiction over the case since the country is a sovereign entity.
The ruling is the latest development following arbitration which ruled that Nigeria was in breach of its obligations under the China-Nigeria BIT and awarded Zhongshan compensation of around $70 million.
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In January 2022, the Chinese company initiated a case to seek enforcement of the arbitration award.
