The much anticipated judgment of the Commercial Court in the “Tuna Bonds” litigation was handed down by Knowles J on Monday 29 July. In a mammoth 123 pages, the court found that Privinvest, a ship building conglomerate, had engaged in the bribery of Mozambique’s former finance minister, Manuel Chang. Settlements were reached with various banks involved in the funding arrangements for the ship building contracts during the trial, and individual bankers. Jonathan Cohen KC and Ashley Cukier appeared for a member of the Credit Suisse deal team. Mr Chang’s criminal trial began in New York on 13 July 2024.
