On 29 July 2024, Mr Justice Robin Knowles gave judgment on the so-called ‘Tuna Bonds’ litigation concerning maritime infrastructure projects in Mozambique and their associated financing and sovereign guarantees valued at over US$2 billion.
The Republic of Mozambique contended that the Guarantees were procured by the bribery of Mozambican officials by Lebanese shipbuilder, Privinvest and its associated companies and the group’s (late) chairman, Mr Iskander Safa. The decision involves a close examination of practices within international banking and finance as well as the law on bribery, dishonest assistance and unlawful means conspiracy .
Peter Knox KC, Charlotte Pope-Williams and Daniel Goldblatt were instructed by Rupert Butler, Steph Davies and Owen Vanstone-Hallam at Leverets Group on behalf of two members of the Credit Suisse deal team (‘the Deal Team’).
The Republic settled its claims against the Deal Team at the start of the trial. A month into the trial and following a strike-out application by the Deal Team and Credit Suisse, the Privinvest defendants settled their claims against the Deal Team.
The case was named one of The Lawyer’s Top 20 Cases for 2023 and involved 11 sets of proceedings, 10 legal teams, monthly case management conferences, several strike-out applications, sovereign immunity challenges, jurisdictional challenges determined by the Supreme Court, and a 13-week trial.
Click here to read the judgment.
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