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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The World Bank rejects the claims of the Kuwaiti company Agility against Iraq and fined it 5 million

    Rocky
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    • Post n°1

    The World Bank rejects the claims of the Kuwaiti company Agility against Iraq and fined it 5 million Empty The World Bank rejects the claims of the Kuwaiti company Agility against Iraq and fined it 5 million

    Post by Rocky Wed 24 Feb 2021, 7:07 am


    The World Bank rejects the claims of the Kuwaiti company Agility against Iraq and fined it 5 million dollars

    16:01 - 23/02/2021

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    Information / translation ...
    The World Bank court rejected the case against [You must be registered and logged in to see this link.] by the Kuwaiti company Agility, in which it claimed that it had lost 380 million dollars of investment in Cork Telecom Company.
    "The court issued orders to Agility, one of the largest logistics services companies in the Gulf, to pay more than $ 5 million to Iraq for the costs related to the case," Reuters reported in a report translated by the agency.
    He added, “The company had submitted a request for arbitration in 2017 with the International Center for Settlement of Investment Disputes, which is part of the World Bank Group and deals with disputes between international investors, as the company claimed that [You must be registered and logged in to see this link.] indirectly confiscated its investments that exceeded 380 million dollars and violated the 2015 protocol. Bilateral between Kuwait and Iraq on encouraging the movement of capital and investment between the two countries.
    The company continued in its complaint that " [You must be registered and logged in to see this link.] deprived the company and its subsidiaries of the ability to appeal the 2014 decision issued by the Iraqi National Communications and Media Authority to cancel Agility's investment in Cork Telecom, the Iraqi mobile phone operator."
    The document obtained by Reuters, a copy of the court's final decision, said, “The World Bank’s arbitration panel rejected my age’s claims, and ordered the company to pay nearly $ 5.2 million to Iraq to cover fees related to the case, and if it does not do so within 30 days, it must The company is to pay interest to Iraq at a rate of six months in US dollars at a rate of 2 percent of the amount, as of the time of the decision, on any amount due, on a semi-annual basis.
    A close Iraqi source said, "The court's decision depends on the fact that the conflict precedes the Kuwaiti-Iraqi protocol, and that my generation did not use all the legal means available in [You must be registered and logged in to see this link.] to challenge the decision of the Media and Communications Commission.
    It is noteworthy that Agility Company still has other successful business interests in [You must be registered and logged in to see this link.] . She said in her statement that "a bad commercial investment decision on its part should not be extrapolated to criticize the Iraqi investment climate." According to the statement. End / 25 z

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