UK court ruling a setback for Mozambique in $2bn debt scandal
Claims against shipbuilder Privinvest, at the centre of a $2bn debt scandal, fall under an ongoing arbitration, court rules
11 March 2021 - 21:06
Mozambique's claims against shipbuilder Privinvest, at the centre of a $2bn debt scandal, fall under an ongoing arbitration process, Britain's appeals court found on Thursday, in a blow to Mozambique's efforts to remove its liability for part of the money.
Mozambique is suing Privinvest, its billionaire CEO Iskandar Safa, and Credit Suisse in London's high court over $2bn in government-guaranteed loans raised in 2013 and 2014, a hefty chunk of which went missing according to authorities...
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