The Republic of Mozambique v Credit Suisse International and others (Privinvest Defendants)

Decisions and steps

1. 29 July 2024Court finds Privinvest entities liable, debt procured by bribery^S4S6
2. 10 December 2024Permission to appeal refused in [2024] EWHC 3188 (Comm), costs on account ordered^S5
3. 6 May 2026Court of Appeal strikes out Privinvest appeal, judgment final^S11

Claims this case bears on

• Supported87
  The English Commercial Court ruled on 29 July 2024 that the Mozambique debt was procured by bribery orchestrated by Privinvest and found the Privinvest entities liable to the Republic.
  Company statement, 30 July 20243 records citedBribery
• Contradicted85
  Privinvest and its owner Iskandar Safa denied any wrongdoing and said any payments were lawful.
  Company statement, 29 July 20243 records citedBribery

Sources

1. S4Tier A The Republic of Mozambique v Credit Suisse International and others [2024] EWHC 1957 (Comm)High Court of Justice, Commercial Court (National Archives). Court judgment. 29 July 2024.Records payments by Privinvest Shipbuilding SAL accepted by the group and Safa, and Safa's death after trial. We did not read every concluding paragraph.Link working, checked 25 October 2026
2. S6Tier B White & Case secures critical settlements for Republic of Mozambique in long-running multibillion-dollar debt disputeWhite & Case LLP (for the Republic of Mozambique). Company statement. 30 July 2024.Counsel for Mozambique states the bribery finding against Privinvest. It is a party statement and gives no damages figure.
3. S5Tier A The Republic of Mozambique v Credit Suisse International & Ors [2024] EWHC 3188 (Comm)High Court of Justice, Commercial Court (National Archives). Court judgment. 10 December 2024.Judgment 13 refusing the Privinvest companies permission to appeal and ordering costs on account. It does not restate the damages sum.
4. S11Tier B Tuna Bonds appeal successfully struck outPeters & Peters Solicitors LLP (for the Republic of Mozambique), reporter Brian McDonald. Company statement. 13 May 2026.Counsel for Mozambique reports the Court of Appeal struck out the Privinvest appeal by order of 6 May 2026 after the group did not meet security terms, so the July 2024 judgment is final against the Privinvest corporate entities. It states no damages figure.
5. S7Tier C UPDATE 1-Mozambique 'substantially' wins UK lawsuit against Privinvest over 'tuna bond' scandalReuters (via CNBC Africa), reporter Sam Tobin. Press report. 29 July 2024.Reports the just over US$825 million award against Safa and Privinvest and the group's denial. Press colour, not the primary record.