English Court Will Review Enforceability Of $152 Million Award

(November 19, 2015, 3:48 PM EST) -- LONDON — After considering that a determination of whether to enforce an award could take another 20 to 30 years in Nigeria's courts, an English appeals court on Nov. 10 ruled that based on English public policy, it will determine the enforceability of a $152,195,171 award issued in favor of a Hong Kong entity against the Nigerian National Petroleum Corp. (NNPC) and ordered the NNPC to post $100 million in security (IPCO [Nigeria] Limited v. Nigerian National Petroleum Corp., No. [2015] EWCA Civ. 1144).

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