Mozambique on Monday “substantially” won its $3.1bn (R57bn) lawsuit at London's high court against Emirati-Lebanese shipbuilder Privinvest for allegedly paying bribes in relation to the decade-old “tuna bond” scandal.
The African country sued Privinvest and its now late owner Iskandar Safa, alleging they paid bribes to Mozambican officials and Credit Suisse bankers.
Mozambique said more than $136m (R2.5bn) was paid to secure favourable terms on three projects in 2013 and 2014, including one designed to exploit the country's tuna-rich coastal waters.
Privinvest and Safa, however, denied wrongdoing and said any payments were lawful. Their lawyers argued the case was a politically-motivated attack to deflect blame from Mozambican President Filipe Nyusi and other senior officials.
Judge Robin Knowles said on Monday he had ruled “substantially in favour” of Mozambique.
Mozambique ‘substantially’ wins UK lawsuit against shipbuilder Privinvest over ‘tuna bond’ scandal
Image: Siphiwe Sibeko/Reuters
Mozambique on Monday “substantially” won its $3.1bn (R57bn) lawsuit at London's high court against Emirati-Lebanese shipbuilder Privinvest for allegedly paying bribes in relation to the decade-old “tuna bond” scandal.
The African country sued Privinvest and its now late owner Iskandar Safa, alleging they paid bribes to Mozambican officials and Credit Suisse bankers.
Mozambique said more than $136m (R2.5bn) was paid to secure favourable terms on three projects in 2013 and 2014, including one designed to exploit the country's tuna-rich coastal waters.
Privinvest and Safa, however, denied wrongdoing and said any payments were lawful. Their lawyers argued the case was a politically-motivated attack to deflect blame from Mozambican President Filipe Nyusi and other senior officials.
Judge Robin Knowles said on Monday he had ruled “substantially in favour” of Mozambique.
READ MORE:
Mozambique's $3.1bn lawsuit against shipbuilder politically motivated, UK court told
Mozambique says it is pursuing 'tuna bond' case against Privinvest
Why has Mozambique sued Credit Suisse over the ‘tuna bonds’?
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