Two guest houses linked to the Nigerian government in Liverpool, UK, have been listed for sale on eBay after being shut down and seized by a Chinese company over a $70 million unresolved dispute.
The properties, located at 15 Aigburth Hall Road and Beech Lodge, 49 Calderstones Road, were valued between £1.3 million and £1.7 million as of June.
This follows a judgment by the Commercial Court in the King’s Bench Division of London’s High Court of Justice, which granted Zhongshan Fucheng Industrial Investment an enforcement order.
The seizure is part of Zhongshan’s efforts to recover $70 million from an outstanding arbitration award against Nigeria, with two per cent monthly interest accruals as of August 20, 2024.
The dispute originates from a 2013 contract between Zhongfu, a subsidiary of Zhongshan Fucheng Industrial Investment, and the Ogun State government to develop a free trade zone, with Zhongfu claiming a 60 percent stake in the joint venture.
