Mozambique wins $3.1B lawsuit against Privinvest in London's High Court over "tuna bond" scandal.
Mozambique prevails in $3.1B lawsuit against Emirati-Lebanese shipbuilder Privinvest at London's High Court over "tuna bond" scandal. Mozambique accused Privinvest and its late owner Iskandar Safa of bribing officials for favorable terms on three projects. Privinvest denied wrongdoing, but Judge Robin Knowles ruled in favor of Mozambique, awarding over $825M and an indemnity for payments to bondholders.
July 29, 2024
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