CONTINENTAL TRANSFERT TECHNIQUE LIMITED, Plaintiff, v. FEDERAL GOVERNMENT OF NIGERIA, Et Al., Defendants

850 F. Supp. 2d 277, 2012 WL 1005203, 2012 U.S. Dist. LEXIS 41292
CourtDistrict Court, District of Columbia
DecidedMarch 27, 2012
DocketCivil Action No. 2008-2026
StatusPublished
Cited by21 cases

This text of 850 F. Supp. 2d 277 (CONTINENTAL TRANSFERT TECHNIQUE LIMITED, Plaintiff, v. FEDERAL GOVERNMENT OF NIGERIA, Et Al., Defendants) is published on Counsel Stack Legal Research, covering District Court, District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
CONTINENTAL TRANSFERT TECHNIQUE LIMITED, Plaintiff, v. FEDERAL GOVERNMENT OF NIGERIA, Et Al., Defendants, 850 F. Supp. 2d 277, 2012 WL 1005203, 2012 U.S. Dist. LEXIS 41292 (D.D.C. 2012).

Opinion

OPINION

PAUL L. FRIEDMAN, District Judge.

Before the Court is a “Rule 60(a) Motion to Correct Clerical Mistake or Mistake Arising from Oversight or Omission,” filed by plaintiff Continental Transferí Technique Limited (“Continental”). For the reasons stated below, the Court will grant the motion in part and hold the motion in abeyance in part. 1

*281 I. BACKGROUND

Continental brought this action under the Federal Arbitration Act, 9 U.S.C. §§ 201 et seq., and the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, opened for signature June 10, 1958, 21 U.S.C. 2517, reprinted in 9 U.S.C. § 201 (historical and statutory notes) (“the New York Convention”), to enforce a 2008 arbitral award issued in the United Kingdom. Continental also sought to enforce, under the District of Columbia’s Uniform Foreign-Money Judgments Recognition Act, D.C.Code §§ 15-381 et seq. (“UFMJRA”), a 2009 judgment by the United Kingdom’s High Court of Justice, which confirmed the arbitral award as final and enforceable. See Am. Compl. ¶¶ 1-2.

The Court granted Continental’s motion for summary judgment against the defendants — the Federal Government of Nigeria, the Attorney General of Nigeria, and the Minister of the Interior of Nigeria (collectively, “Nigeria”) — and entered an Order and Judgment confirming the arbitral award in its entirety and holding the U.K. judgment enforceable under the UFMJRA. See Continental Transfert Technique Ltd. v. Federal Government of Nigeria, 800 F.Supp.2d 161 (D.D.C.2011); Order and Judgment (Aug. 3, 2011) [Dkt. No. 46]. Continental subsequently filed the present motion asking the Court, pursuant to Rule 60(a) of the Federal Rules of Civil Procedure, to “correct the judgment to reflect the amount of USD$423,184,115.29 plus applicable post-judgment interest.” Mot. at 2. Embedded within Continental’s motion are three distinct requests.

The arbitral award confirmed by this Court held Nigeria liable to Continental for three separate monetary sums in different currencies: Nigerian naira, British pounds, and U.S. dollars. Am. Compl. ¶¶ 24-27; MSJ Ex. 4 (“Arb. Award”) at 50. Continental’s first request is that the Court convert the British- and Nigerian-currency awards into U.S. dollars and combine all three figures to arrive at “a total U.S. dollar amount.” Mot. at 2.

Continental’s second request is for an award of prejudgment interest. The Court’s Order and Judgment confirming the arbitral award made no mention of prejudgment interest. Converting the foreign currencies and combining all three sums, as requested by Continental, would result in a total sum of $250,522,787.84. See Hankin Decl. ¶¶ 5-6. As noted, Continental is asking for an award of $423,184,115.29. The difference of $172,661,327.45 represents prejudgment interest, to which Continental maintains it is entitled, spanning the period from the date of the arbitral award to the date of this Court’s Judgment confirming the award. See id. ¶¶ 7-8; Opp. at 2 (stating that Continental’s request “will raise the Final Award from a total of about $250,000,000 to a judgment of more than $423,000,000, a difference of about $180,000,000 USD.”).

Finally, Continental also requests “applicable post-judgment interest” on the *282 roughly $423 million specified above. See Mot. at 2.

II. DISCUSSION

A. Conversion of Awards in British and Nigerian Currencies to U.S. Dollars

The arbitral award found Nigeria liable to Continental for three separate amounts: (1) the primary award, in Nigerian naira in the amount of N29,660,166,207.48; (2) Continental’s costs, in the amount of $247,500; and (3) any costs of the arbitration that Continental paid in excess of five percent of the total, which Continental and Nigeria agree amounts to £160,793.84. 2 Continental’s complaint did not request that the foreign currencies be converted into U.S. dollars, nor that the three separate award amounts then be combined into a single total figure. See Compl.; Am. Compl.

At summary judgment, Continental’s statement of undisputed material facts identified the exchange rates for British pounds and Nigerian naira that were in effect on the date of the arbitration award. PI. Stmnt. Facts ¶ 16. 3 Nigeria admitted the accuracy of those rates. Def. Stmnt. Facts ¶ 16. In addition, the proposed order that Continental submitted with its summary judgment motion granted judgment to Continental in a single dollar amount corresponding to the combined value of the three separate awards after conversion into U.S. currency. See Proposed Order at 1. But nowhere in Continental’s motion did the company explain why it was entitled to conversion of the foreign currencies into U.S. dollars, or why it was entitled to have that conversion calculated using the exchange rates that were in effect at the time of the arbitration award. Nigeria’s opposition was likewise silent on these matters — understandably so, because Continental did not seek this form of relief in its complaint and only obliquely sought it at summary judgment.

The Court’s Order and Judgment in favor of Continental simply confirmed the arbitration award in its entirety and ordered the U.K. judgment enforceable; neither the Order and Judgment nor the accompanying Memorandum Opinion addressed conversion of the foreign currencies. Continental now asks the Court to convert those currencies and combine the resulting figures into a total U.S. dollar amount, a task that Continental characterizes as the correction of a mistake arising from oversight or omission. See Mot. at *283 2. Continental argues that its summary judgment papers “identified the applicable exchange rates ... the accuracy of which Nigeria admitted.” Id at 3.

Although Nigeria has admitted the accuracy of the exchange rates that were in place at the time of the June 2008 arbitral award, such an acknowledgment does not address whether Continental was entitled to conversion at the same exchange rates when Judgment was entered in this Court, over three years later. Because Continental never requested conversion of the foreign currencies in its complaint nor (explicitly) at summary judgment, the parties never addressed what exchange rate should apply were the Court to convert the foreign currencies into dollars. Consequently, the Court made no findings on this issue. See Continental Transfert Technique Ltd v.

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850 F. Supp. 2d 277, 2012 WL 1005203, 2012 U.S. Dist. LEXIS 41292, Counsel Stack Legal Research, https://law.counselstack.com/opinion/continental-transfert-technique-limited-plaintiff-v-federal-government-dcd-2012.