Mishcon de Reya have been awarded "Most Important Decision" at the 2024 GAR Awards following the English Court's landmark judgment on 23 October 2023 confirming that Nigeria had been successful in challenging the colossal $11 billion award made against it.
In his judgment, Mr Justice Knowles CBE found that P&ID (the BVI registered entity that had obtained the arbitration award against Nigeria) had obtained the award "only by practising the most severe abuses of the arbitral process" and commended the "expertise and tenacity" shown by Mishcon and Nigeria's Counsel team which "made the difference in getting to the facts".
Mishcon de Reya Partner Shaistah Akhtar, who led the Mishcon team acting for the Federal Republic of Nigeria, said: "We feel incredibly proud to have acted for Nigeria on this case. Nigeria's success in setting aside this $11 billion fraudulent award has been hugely important to Nigeria's economy and its 200 million people, and has set a clear example for other developing countries marked by the scourge of corruption."
Shaistah Akhtar led the Mishcon de Reya team alongside Partner Andrew Short, supported by Managing Associate Lydia Allaby and Associates Holly Edmond, Himaansu Servansingh, Connor Morrison and Sharvani Jeya Putra.