Iraq Skirts Kuwaiti Co.'s $380M Telecom Investment Claim

Law360 (February 23, 2021, 6:46 PM EST) -- Iraq has fended off Kuwaiti logistics contractor Agility Public Warehousing Co. KSC's claim accusing the country of wrongly rescinding its $380 million investment in a Kurdish mobile phone operator called Korek Telecom, said to be Iraq's fastest growing mobile operator.

An International Centre for Settlement of Investment Disputes tribunal on Monday denied claims that the Iraqi government had expropriated Agility's investment after regulators annulled the company's investment in Korek Telecom and transferred them back to the original Iraqi shareholders. The arbitrators ordered the company to pay Iraq $5.17 million to cover its fees and costs.

Iraq had argued in the proceeding...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!