Nigeria gives UK court $200 million guarantee for stay on asset seizures in P&ID case
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LAGOS (Reuters) - The Nigerian government on Thursday placed a bank guarantee of $200 million (155 million pounds) with a high court in London to secure a stay on asset seizures of up to $9 billion related to a failed gas project, a spokesman for its attorney general said. Process & Industrial Developments, a firm based in the British Virgin Islands set up solely to build a gas processing plant in Nigeria, won a $6.6 billion arbitration award after the 2010 deal collapsed. The award has been..