A Chinese investment group, Zhongshang Fucheng Industrial Investment Ltd, has taken possession of two residential properties in Liverpool, UK, owned by Nigeria, to recover a $70 million judgement debt. The properties were seized in June 2024 after Nigeria failed to settle a 2021 arbitration ruling. The properties, valued at $2.2 million, will be sold on online marketplaces like eBay to recover the debt, which includes $55.7 million in arbitration awards, $9.4 million in interest, and £2.86 million in legal costs. The dispute arose from a 2001 trade agreement between Nigeria…
Read MoreChinese Firm to Sell Seized Nigerian Properties in UK to Recover $70m Judgement Debt
