The Dubai International Financial Centre (DIFC) Court has upheld a $1.6 billion International Chamber of Commerce (ICC) arbitration award in favor of Iraq Telecom, a joint venture between Kuwait’s Agility and France’s Orange, against Sirwan Barzani and Korek Telecom, dismissing their attempts to overturn it, according to Global Arbitration Review. The award found that Barzani and Korek conspired to bribe Iraqi officials to revoke a previous telecoms deal. The DIFC Court dismissed the grounds for the annulment application and found no breach of UAE public policy, upholding both the award and a worldwide freezing order.
Global Arbitration Review – DIFC court upholds billion-dollar award in Iraqi bribery dispute
