Seladore Legal successfully advises President Nyusi in Tuna Bond spin-off

4 September 2023

Seladore Legal is delighted to announce a significant victory on behalf of His Excellency, President Nyusi of Mozambique in a spin-off claim stemming from the so-called Tuna Bond or “hidden debt” case.

One of the biggest disputes being heard in London this year, the case relates to a $2 billion claim alleging international fraud brought by the Republic of Mozambique against entities in the Credit Suisse and Privinvest groups. At issue today specifically, was a Part 20 spin-off claim brought against President Nyusi by Privinvest.

Seladore successfully argued that the English Courts had no jurisdiction over President Nyusi due to statutory principles of state immunity, and persuaded the court to throw out Privinvest’s claim.

The Seladore team was led by partners Simon Bushell and Gareth Keillor and we are grateful to Rodney Dixon KC and Russell Hopkins of Temple Gardens Chambers, who represented His Excellency in court.