Pakistan Settles $846M Dispute With Turkish Energy Co.

Law360 (November 5, 2019, 6:15 PM EST) -- The government of Pakistan has settled an $846 million dispute with a Turkish energy company stemming from a soured rental power project that the country claimed was tainted by corruption.

Pakistani Prime Minister Imran Khan wrote on Twitter on Monday that the government had "amicably resolved" the dispute with Karkey Karadeniz Elektrik Uretim AS with the help of Turkish President Recep Tayyip Erdoğan.

Karkey likewise acknowledged that a settlement had been reached, saying in a statement Tuesday that exchanges between the two leaders at the United Nations General Assembly this year "led to positive developments regarding the amicable settlement of the...

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