UK Court dismisses “palpable nonsense” argument that 2001 restructuring undermines Tanzanian recovery action
Dar Es Salaam (Credit: By Emil Lie Hatlelid - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php)
The UK high court has granted summary judgment against a Tanzanian power company and its operators, holding that the position they have taken in parallel African proceedings, where they allege a 2001 restructuring nullified loan agreements owned by Standard Chartered bank, would have no prospect of success in England.
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