Nigeria Wins $2.35bn Arbitration Battle With Sunrise Power

The International Chamber of Commerce (ICC) tribunal in Paris, France, has ruled in favour of Nigeria in the $2.35 billion claim brought by Sunrise Power over the Mambilla hydropower project.

The tribunal dismissed Sunrise Power’s claims against Nigeria and also ordered the company and its promoter, Leno Adesanya, to reimburse the Nigerian government for 75 per cent of the legal fees and expenses it incurred in the arbitration.

According to TheCable, the award was issued on Thursday.

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