Peters & Peters is pleased to confirm that, pursuant to the Order of Lord Justice Phillips dated 6 May 2026, the appeal of the Privinvest group in the ‘Tuna Bonds’ litigation has been struck out. The Privinvest group has failed to meet the security terms which were imposed by the Court of Appeal at the Republic’s request. The result is that the judgment of the Honourable Mr Justice Robin Knowles CBE of July 2024 is final as against the Privinvest corporate entities, which are also liable to the Republic for the costs of the appeal.

The Republic continues to pursue its claims against the late Mr Safa, members of the Safa family and other associated parties, to ensure proper compensation for the Mozambican people.

Keith Oliver, Sarah Gabriel, Philip Gardner and Louisa Keech acted for the Republic in the appeal, including the multiple applications relating to the security requirements, instructing Mr Joe Smouha KC, Mr Ciaran Keller KC, Mr James Andrews-Tipler and Mr Ryan Ferro.