The Nigerian gas deal, the Irish impresario and the £8bn ruling amid claims of bribery
An extraordinary case involving an Irish impresario, an alleged $50,000 bribe stuffed into a bag and potentially one of the biggest payouts in legal history is coming before the English high court early next year. After Nigeria failed to build the required infrastructure for an ambitious energy project of two Irish entrepreneurs, the arbitration courts in London awarded the two men approximately £8.3bn. Following the arbitration, the entrepreneurs’ offshore firm was purchased by Lismore Capital, a litigation funding firm owned by commercial lawyer Seamus Andrew, who represented the firm in the arbitration proceedings, together with VR Advisory Ltd, an investment fund. Officials in Nigeria now allege the deal was corruptly procured and the subsequent arbitration proceedings were “tainted” by claims of collusion.