A Paris judicial court in France has ordered the seizure of three jets belonging to the federal government over the dispute involving arbitration award in favour of Zhongshan Fucheng Industrial Investment Co. Ltd, a Chinese firm.
A Paris court in France has ordered the seizure of three jets belonging to the Nigerian government over the dispute involving an arbitration award in favour of Zhongshan Fucheng Industrial Investment Co. Ltd, a Chinese firm.
The seized jets are Dassault Falcon 7X, with registration number 5N-FGU, Boeing 737-7N6/BBJ, with registration number 5N-FGT, and Airbus A330-243, with registration number 5N-FGA.In 2010, Zhongshan, through Zhuhai Zhongfu Industrial Group Co. Ltd. , its Chinese parent company, acquired rights to develop a free trade zone in Ogun state.
Subsequently, Zhongfu initiated an investment treaty arbitration against Nigeria under the bilateral investment treaty between the People’s Republic of China and Nigeria . Nigeria pleaded state immunity but was turned away by Sara Cockerill, a high court judge in the United Kingdom , who said the country abused the time frame for appealing arbitral awards.Julian Flaux, the presiding judge, ruled Nigeria had failed to comply with the “generous” time limit of two and a-half months to raise the issue of state immunity.
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