MOZAMBICAN President Filipe Nyusi has requested immunity from allegations he received unlawful payments amid the country’s legal battle against Credit Suisse and others over the infamous $2bn ‘tuna bond’ scandal. The case, also known as the ‘hidden debt’ case, has triggered criminal investigations in Maputo and New York, and various lawsuits in London involving Credit Suisse, shipbuilder Privinvest, owner Iskandar Safa, and other parties.
As one of the world’s poorest nations, Mozambique aims to revoke a sovereign guarantee on a loan it claims was corruptly obtained and seek compensation for alleged wrongdoing. However, the lawsuits in London have encountered challenges due to Mozambique’s failure to disclose crucial documents, jeopardising the litigation scheduled for October.
Privinvest and Safa seek to involve President Nyusi in the case, contending that he should bear responsibility for any damages they might be ordered to pay if found liable to Mozambique. Their claim revolves around alleged payments of $11 million made by Privinvest in 2014 to support Nyusi’s successful presidential campaign and his party Frelimo’s election efforts. They argue that if the payments were unlawful and they are held liable to Mozambique, Nyusi should be held liable to them.
President Nyusi asserts his entitlement to immunity as a sitting head of state. While he was not present in court on Tuesday, his lawyer, Rodney Dixon, argued that legally there is no difference between trying to sue Nyusi in London and trying to sue Britain’s King Charles in Australia.
The long-running dispute centres on three deals involving state-owned companies and Privinvest, ostensibly aimed at developing Mozambique’s fishing industry and maritime security. These deals were partly funded by loans and bonds from Credit Suisse, which has since been taken over by UBS, backed by undisclosed Mozambican government guarantees. However, large sums of money went missing, and the revelation of state loan guarantees in 2016 led to the suspension of support from organisations like the International Monetary Fund, leading to a currency collapse, debt crisis, and years of legal battles.
(with Reuters)