Shipbuilder Seeks Compensation From Mozambique

The group is seeking compensation for losses it incurred after contractual breaches.

Shipbuilder, Privinvest group, has begun arbitration proceedings against three state-owned Mozambican companies.

The group is seeking compensation for losses it incurred after contractual breaches.

Privinvest is taking this legal route in response to charges against employees, alleging that t about $200 million was stolen in Mozambique-loan proceeds, which stems from a hidden debt scandal. 

Prinvinvest spokesperson, Jeffery Birnbaum, says the company is now targeting the state-owned entities for breaching supply agreements.

Although the Mozambique office of the Attorney- general is yet to comment on this, Birnbaum says for about three months now, Privinvest has been silent in the face of a false narrative about its activities in Mozambique and it doesn’t wish to continue to be silent

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