IPCO Nigeria Ltd v Nigerian National Petroleum Corporation - 2015 EWCA Civ 1144 - Approved Supplementary Judgment - see also main Judgment - 10 November 2015
1. When we circulated our judgment in draft paragraph 175 indicated that we proposed to require security for the whole of the Award including principal and interest both accrued and outstanding. After we had done so we received a letter from NNPC’s solicitors which invited the Court to reconsider its judgment in respect of two matters: i) our decision that NNPC should forthwith provide security for the full amount of the Award and interest accruing thereunder; and ii) our decision that if the fraud challenge to the Award failed there should be immediate enforcement of the full amount of the Award together with interest notwithstanding the unresolved non fraud challenges to the Award before the Nigerian Court. We have done so. This is the supplementary judgment of the Court.