Two Nigerian properties located in the United Kingdom are on the verge of being taken over by a Chinese investor following an order granting the investor the right to enforce a $70 million investment treaty award against Nigeria.
The investor, Zhongshan Fucheng Industrial Investment, was granted final charging orders over two UK residential properties owned by the Nigerian government after the company also attached a £20 million debt relating to the high-profile P&ID case.
The Chinese firm secured this order on June 14 when Master Sullivan in the Commercial Court in London granted the orders in respect of two Liverpool properties estimated to be worth a combined £1.7 million.
According to the judge, the order was premised on the fact that the properties have been converted to commercial use outside Nigeria’s diplomatic or consular activities in the UK, stressing that enforcement of the order should prevail.
