On September 9, 2024, Meysan secured a USD 1.3 billion Final Award for Iraq Telecom, a subsidiary of Agility Logistics, in ICC Arbitration proceedings against Korek Telecom, a major Iraqi telecommunications company. The dispute related to Korek’s guarantee of the obligations of its DIFC-registered holding company International Holdings Limited (IH) under a 2011 loan agreement with Iraq Telecom, and the ICC tribunal confirmed that an agreement for the subordination of the debt was void.
This ruling follows a prior ICC case resulting in a USD 1.6 billion award in March 2023.
Meysan Managing Partner Bader El-Jeaan commented, “Korek now has judgment debts in excess of USD 1.9 billion against it, of which Sirwan Barzani is jointly and severally liable for over USD 1.3 billion. Our client now moves on to the enforcement phase in connection with these awards.”
The Meysan team included partners Bader El-Jeaan in Kuwait, John Reynolds and senior associate Oliver Green in London, and partner Tarek Badawy and senior associate Ismail Lamie in Cairo.
Meysan advised on the successful establishment of the KWD 50 million Senior Unsecured Bonds Programme by Kuwait Financial Centre (Markaz) and the issuance of the First Tranche of Bonds with value of KWD 35 million. The First Tranche of the Senior Unsecured Bonds Programme was successfully issued to qualified investors… Read more
Kuwait - Meysan Lawyers and Legal Consultants in Kuwait advised on the offering and listing of the shares of Action Energy Company on Kuwait Stock Exchange – Premier Market with the joint global coordinators and joint bookrunners, National Investments Company, EFG-Hermes UAE Limited and Arqaam Capital Limited. Action Energy Company,… Read more
Meysan has successfully represented a leading global manufacturer in defending against a request to suspend the importation of its products into Egypt. In the context of an ongoing termination dispute with a local distributor, our partner Mourad Haggag and senior associate Ismail Lamie secured a favorable court decision rejecting the… Read more
Overview In a significant development for the UAE’s climate governance framework, the Ministry of Climate Change and Environment (“MOCCAE” or the “Ministry”) launched on 15 October 2025, during GITEX GLOBAL 2025 in Dubai, the Integrated Emissions Quantification Tool (the “IEQT”) as part of the National Measurement, Reporting, and Verification (“MRV”)… Read more
We are pleased to announce that we advised and assisted Al-Mansour Automotive Group regarding the main agreements for the MAC Automotive Plant, an automotive manufacturing facility in 6th of October City, Egypt, for which the foundation stone was laid earlier this week. The project aligns with Egypt’s strategy to localize… Read more
Meysan is pleased to announce that it has acted as legal counsel to Dawi, a leading digital healthcare platform, in its latest investment round, which included a significant strategic investment by Aayan Investment Company. As part of this transaction, Aayan acquired a 30% equity stake in Dawi, marking a pivotal… Read more