Solon assists Sunrise in securing funding for its $400 Million ICC claim against Nigeria

Solon (Jérémie Chouraqui) succeeded in securing funding from leading firm Burford Capital for an ICC claim against Nigeria reportedly worth US$400 million arising from the purported settlement of a prior arbitration over the Mambilla hydropower project.

Solon (Jérémie Chouraqui, Pauline Ricard and Olivier Morin) have been advising Nigerian company Sunrise Power & Transmission Company in its long-standing dispute against Nigeria in connexion with the construction of a $6 Billion infrastructure project in Mambilla, which is the largest African hydropower project.

Sunrise filed a first arbitration with the ICC against Nigeria and Sinohydro in 2017, claiming damages in excess of $1.3 Billion.

Sunrise now claims that Nigeria did not respect the transaction that settled this initial claim and has filed a new arbitration with the ICC, claiming $550 million.

In this arbitration Sunrise is represented by Solon, Clifford Chance, BA Law and G Elias, while Nigeria is represented by White & Case.