Home Mozambique Mozambique seeks to divide sprawling $ 2 billion debt scandal lawsuit

Mozambique seeks to divide sprawling $ 2 billion debt scandal lawsuit

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Law360, London (July 19, 2021, 6:22 p.m. BST) – Mozambique on Monday urged a London judge to split its sprawling litigation against Credit Suisse and an Abu Dhabi-based shipbuilder over a $ 2 billion corruption scandal to prevent the case sank into “litigation chaos”.

The Republic of Mozambique argued in a case management hearing before the High Court that allegations of corruption by Privinvest Shipbuilding SAL of government officials in the country should be heard in a “phase one” trial. alongside the company’s claim that the lawsuit belongs to arbitration.

The government of Mozambique is suing the shipbuilder and its billionaire owner Iskandar Safa over allegations that the contracts were a front for a bribe system and that …

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