Reuters – Kuwait’s Agility awarded $1.65 bln in dispute with Iraq’s Korek Telecom

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An International Chamber of Commerce (ICC) tribunal has awarded $1.65 billion to the shareholders of Iraq Telecom (IT Ltd) after unanimously finding that Korek and its chairman Sirwan Barzani engaged in fraud, self-dealing, diversions of corporate assets, sham loans, and other schemes, all of which amounted to breaches of Korek’s Joint-Venture Agreement with the company.

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