The Mozambican state is demanding 3.1 billion dollars from the Naval Privinvest group and its owner, Iskandar Safa, for damages, compensation and indemnity as part of the "hidden debts" case that began today at the Commercial Court in London. The amount was revealed on Tuesday during the start of the trial, delayed after the agreement reached a...
The shipping group Privinvest has waived its right to call the Mozambican head of state, Filipe Nyusi, as a witness in the trial over Mozambique's hidden debts in the London Commercial Court. The decision was announced by the company's lawyer during a hearing held this Thursday to discuss the reorganization of proceedings as a result of the agreement...
Mozambique has dropped a substantial part of its claim against Emirati/Lebanese shipbuilder Privinvest over the "tuna bonds" scandal, just days after settling its case against Credit Suisse, Reuters reports quoting London's High Court on Thursday. Mozambican lawyer Jonathan Adkin said on Thursday that...
After yesterday's announcement of an agreement with Credit Suisse over the scandal involving more than 1.5 billion dollars worth of "tuna bonds", the Mozambican government is now focusing on something else, and it's called Privinvest. In other words, Mozambique is going to "at all costs" seek compensation from the shipbuilder...
The Mozambican state has been given the go-ahead to sue shipbuilder Privinvest in the UK in connection with the "hidden debts" scandal, according to a British Supreme Court ruling made on Wednesday. The decision comes just weeks before the trial of the case begins on October 3 in London. Thus, the court rejected...
The company says it is continuing efforts to notify the President of the Republic, but the courts claim "difficulty" in finding space in its agenda. The President of the Republic, Filipe Nyusi, is still not responding to the judicial notification made by Privinvest concerning the hidden debts process underway in British courts, revealed this Tuesday the lawyers of the...
The former President of the Republic of Mozambique, Armando Emílio Guebuza, admitted today before the Judicial Court of the city of Maputo, that he ordered the contraction of the debt that damaged the Mozambican State in more than 2.2 billion dollars, with the company Privinvest. Answering one of the questions of the Public Ministry, represented in the trial...
The former president of the Republic of Mozambique, Armando Guebuza, has been enrolled as a declarant in the case of Hidden Debts. He will be the last to be heard by the judge of the case, Efigénio Baptista, next Thursday, February 17. As a member of the Council of State, Armando Guebuza enjoys the privilege of choosing to appear or not at the...
The Judicial Court of Maputo City announced this week that it will no longer question Lebanese Jean Boustani, who had been listed as a declarant in the case of hidden debts in Mozambique. This decision is due to the fact that he is a defendant in an autonomous process about the same case. The information provided by the judge of the...
The supervisory body for Mozambique's public finances is demanding debt relief of around US$2.2 billion, contracted with Credit Suisse. The amount is ten times what the bank is willing to pay. According to the Budget Monitoring Forum (FMO) there are enough factors for the...