UK judge to allow Nigeria to appeal ruling on $9.6 bln P&ID case

A UK judge on Thursday gave Nigeria permission to seek to overturn a ruling that would have allowed a private firm to seek to seize more than $9 billion in assets.

The judge also granted Nigeria's request for a stay on any asset seizures while its legal challenge is pending, but ordered it to pay $200 million to the court within 60 days to ensure the stay.

The original decision on Aug. 16 converted an arbitration award held by firm Process & Industrial Developments (P&ID) to a legal judgment, which would allow the British Virgin Islands-based firm to try to seize international assets.

Also Read: French National Assembly head Ferrand questioned by judges - source