By John Lee.
The World Bank's International Center for Settlement of Investment Disputes (ICSID) has appointed an ad hoc committee to consider the possible annulment of an award made in favour of the Iraqi Government, in relation to a dispute over the alleged takeover of a cement factory in Kirkuk.
Germany's AHG Industry GmbH & Co. KG was said to be claiming $878 million from the Republic of Iraq for the alleged expropriation of its cement production business.
ICSID had previously dismissed the investor's claim (ICSID Case No. ARB/20/21).
In a statement, ICSID said the ad hoc Committee members are:
Carita Wallgren-Lindholm (Finnish), President;
Tina Cicchetti (Canadian/Italian); and
Bertha Cooper-Rousseau (Bahamian).
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