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Mozambique to Use Cash From London Court Win to Repay Tuna Bonds

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Fishermen tend to their boats on the shores of the Paquitequete neighborhood in Pemba on June 16, 2022. Photographer: Alfredo Zuniga/AFP/Getty Images (Alfredo Zuniga/Photographer: Alfredo Zuniga/AFP)

(Bloomberg) -- Part of the money that a London High Court judgment ordered Privinvest to pay Mozambique will go toward repaying the $900 million eurobonds that emerged from the scandal, Angelo Matusse, deputy attorney general, tells reporters.

  • Remainder will go toward settlement payments that Mozambique agreed to with lenders
  • NOTE: Mozambique’s attorney general says in statement earlier Monday that the judge ordered Privinvest to pay the nation about $1.9 billion plus fees
  • NOTE: Privinvest will appeal the judgment, it says in an emailed statement
  • NOTE: Earlier, Mozambique Wins Fraud Suit Over Credit Suisse Bond Scandal 

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