Tag Archives | Arbitration

Agility awarded $1.65bn in Dispute with Iraq's Korek

By John Lee. The International Court of Arbitration of the International Chamber of Commerce (ICC) has released its findings in the arbitration case between Iraq Telecom Limited, a subsidiary of Kuwait's Agility Public Warehousing Company KSCP, and International Holdings Limited, an affiliate of Agility, as claimants; and Korek Telecom Limited and Sirwan Saber Mustafa Barzani, […]

Iraq Ministry of Oil pays US Law Firm $2.6m

By John Lee. Texas-based law firm Vinson and Elkins has received more than $2.6 million for its role as legal advisor to Iraq's Ministry of Oil in the United States. According to documents filed under the US's Foreign Agents Registration Act (FARA), the sum relates to the six-month period to the end of January. The […]

JDI organises Workshop on Foreign Arbitration Awards

By John Lee. Iraq's Judicial Development Institute (JDI) has organized a workshop for judges of first-instance courts on the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards. Judge Kadhim Abas Habib, vice-president of Federal Court of Cassation, lectured in the workshop. A judge from each appeal court and six judges from […]

German Firm Challenges Iraq Arbitration Ruling

By John Lee. Germany's AHG Industry GmbH & Co. KG has applied for an annulment of the recent award made in favour of the Iraqi Government, in relation to a dispute over the alleged takeover of a cement factory in Kirkuk. The World Bank's International Center for Settlement of Investment Disputes (ICSID) had previously dismissed […]

$878m Arbitration Case against Iraqi Govt Dismissed

By John Lee. The World Bank's International Center for Settlement of Investment Disputes (ICSID) has reportedly dismissed a German investor's claim arising out of the Iraqi Government's alleged takeover of a cement factory in Kirkuk. In the case (ICSID Case No. ARB/20/21), AHG Industry GmbH & Co. KG was said to be claiming $878 million […]

Lebanese Firm takes Arbitration Case against Iraq

By John Lee. Lebanese company Primesouth International Offshore has commenced arbitration proceedings against Iraq at the International Centre for Settlement of Investment Disputes (ICSID). Details of the dispute have not been released, but in 2020 the company was reported to have signed a two-year contract, along with China CAMC Engineering Co (CAMCE), to install 640 […]

Iraq and Iran sign MoU on Arbitration

By John Lee. Tehran and Baghdad have reportedly signed a memorandum of understanding (MoU) to establish a joint arbitration center. The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq al-Zuhairi, is quoted as saying that the MoU can remove the obstacles that hinder cooperation between the two countries. The agreement was finalised […]

Iraq to buy Exxon stake in West Qurna 1

By John Lee. The Iraqi cabinet has agreed to allow the Basra Oil Company (BOC) to take over ExxonMobil's holding in the West Qurna 1 oilfield, at a price of up to $350 million. Addressing media after Wednesday's cabinet meeting, Minister of Communications Arkan Al-Shaibani (pictured) said the cabinet also allocated an initial payment of […]

New York Convention: Legal Opinion

By Mohammed Koperly (LLB, PstgD), Associate, Al Nesoor Law. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq finally says YES to Arbitration. The Law on the Accession of the Republic of Iraq to the New York Convention 1958 on the Recognition and Enforcement […]