Lesotho May See Global Assets Seized After Contract Breach
- Frazer Solar won an arbitration award against Lesotho
- Lesotho government hasn’t responded to the legal action
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Lesotho faces having 50 million euros ($61 million) of its assets seized around the world after breaching the terms of a contract with Frazer Solar GmBH.
Frazer Solar, which began legal action against the southern African nation in 2019 after what it said were a series of contractual breaches, won an arbitration proceeding in South Africa, in which it was awarded the damages, the company said in a statement on Tuesday. A global enforcement action has now been filed in the District of Columbia in the U.S.