Bader El Jeaan_Abdulwahab Sadeq

Meysan Partners secures award in Iraq Telecom Arbitration case

Meysan Partners has achieved a significant legal victory for Iraq Telecom Limited (IT Ltd.), a joint venture between Agility Public Warehousing Company and Orange, in a recent International Chamber of Commerce (ICC) arbitration against Korek Telecom Company LLC (Korek) and its Chair, Saber Sirwan Barzani.

The tribunal found that Korek and Mr. Barzani were involved in a corrupt scheme to defraud IT Ltd. and IH Ltd., an affiliate of Agility that previously owned 100 percent of Korek’s shares, by bribing Korek’s regulators. The tribunal also found that the respondents had defrauded IT Ltd. and IH Ltd. through self-dealing, diversions of corporate assets, sham loans, and other schemes, all of which amounted to breaches of Korek’s Shareholders’ Agreement.

As a result, the tribunal awarded USD1.012 billion in damages to IH Ltd. and USD228.8 million in damages to IT Ltd. The tribunal also ordered that the respondents pay pre-award interest to IH Ltd. in the amount of USD317 million and to IT Ltd. in the amount of USD 71.7 million, as well as legal fees and arbitration costs. 

The Meysan team represented by senior partner Bader El Jeaan (pictured left) and partner Abdulwahab Sadeq (pictured right), represented Agility, along with White & Case and Gibson Dunn & Crutcher, and Jones Day represented Orange. 

For further details on the White & Case team involved click here