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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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    International ruling against the Central Bank obliges Iraq to pay $11 million

    Rocky
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    • Post n°1

    International ruling against the Central Bank obliges Iraq to pay $11 million Empty International ruling against the Central Bank obliges Iraq to pay $11 million

    Post by Rocky Fri 13 Sep 2024, 4:00 am

    [size=35][size=35]International ruling against the Central Bank obliges Iraq to pay $11 million[/size]
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    2024-09-12 | 09:31
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    [You must be registered and logged in to see this link.] of the International Chamber of Commerce (ICC) in Paris issued a ruling against the Central Bank of Iraq, and obligated [You must be registered and logged in to see this link.] to pay $11 million to a foreign company.


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    According to media reports, the International Court of Arbitration of the International Chamber of Commerce (ICC) in Paris, granted the ruling in favor of[You must be registered and logged in to see this link.]Cardno ME (CME) is based in[You must be registered and logged in to see this link.]On February 26, 2023, which requires[You must be registered and logged in to see this link.]By paying approximately $11 million plus interest to CME, in connection with a dispute over the construction of its new headquarters in Baghdad.



    "The Central Bank of Iraq appealed the case to the French courts, but CME requested that the judgment be enforced in the Dutch court under the New York Convention (an international treaty facilitating the recognition and enforcement of international arbitration awards)," she noted.

    The Amsterdam Court of Appeal found, in a decision announced on Monday (September 9, 2024), that "there is no fraud in the agreement, and granted enforcement of the judgment in the Netherlands."

    Foreign media reported that "in connection with this dispute, the engineer was detained[You must be registered and logged in to see this link.]Robert Pether and his Egyptian colleague[You must be registered and logged in to see this link.]Radwan by the authorities[You must be registered and logged in to see this link.]In April 2021, they were sentenced to five years in prison and a joint fine of $12 million for fraud. Their families claim they were tricked into traveling to[You must be registered and logged in to see this link.]“To try to resolve the dispute.”

    The UN Working Group on Arbitrary Detention found that Peter and Radwan were “arbitrarily detained on discriminatory grounds,” and referred the case to the Special Rapporteur on Torture.

    Click[You must be registered and logged in to see this link.] Link to the ruling in Dutch.
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