Mozambique Secures Significant Legal Victory in $3.1 Billion Tuna Bond Scandal

Mozambique has won a substantial legal victory in its $3.1 billion lawsuit against shipbuilder Privinvest in London’s High Court. The case revolved around allegations of bribery linked to the decade-old 'tuna bond' scandal. Privinvest and its late owner, Iskandar Safa, denied any wrongdoing, calling the lawsuit politically motivated.

Mozambique achieved a significant legal victory on Monday, winning its $3.1 billion lawsuit at London’s High Court against Emirati-Lebanese shipbuilder Privinvest. The case alleged that Privinvest, along with its now-deceased owner Iskandar Safa, paid bribes related to the 'tuna bond' scandal from a decade ago.

The African republic claimed over $136 million was paid to obtain favourable terms for three projects in 2013 and 2014, one of which aimed at exploiting Mozambique's tuna-rich coastal waters. Privinvest and Safa refuted the allegations, insisting that all payments were lawful and labeling the lawsuit as a politically motivated effort to shift blame from President Filipe Nyusi and senior officials.

Judge Robin Knowles announced on Monday that the ruling was 'substantially in favour' of Mozambique.