Gov't pays Russians P522m to settle BCL suit
Friday, March 09, 2018
BusinessWeek can reveal that a presidential directive of January 24, 2018 issued a special warrant under which the payment was made to the Russian nickel giant.
In November 2016, Norilsk Nickel, the world’s largest producer of nickel, filed a lawsuit to recover US$271.3 million and other costs from BCL Ltd, in relation to a failed 2014 deal under which the local Mine was to buy equity from the Russians.
These legal professionals, who are entrusted with upholding the rule of law, face numerous challenges that compromise their ability to effectively carry out their duties.Elsewhere in this edition, we carry a story on the lamentations of the officers of court.The prosecutors have raised a number of concerns, calling for urgent attention from all relevant stakeholders, including the President, Minister of Justice and the Attorney General. Their...