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.
Decree-Law No. 87 of 2026 Introduction Building on Kuwait's leading record in charitable, humanitarian and relief work, Decree-Law No. 87 of 2026 on the Regulation of Charitable and Humanitarian Work has been issued to replace the legislative and regulatory framework that has been in place since 1959. The law aims… Read more
Meysan acted as Kuwait counsel for the Joint Lead Managers in connection with Kuwait International Bank K.S.C.P.’s (KIB) issuance of US$500 million senior unsecured sukuk, issued through KIB Sukuk Limited under the US$1.5 billion Trust Certificate Issuance Programme. Citigroup Global Markets and Standard Chartered, acted as Joint Global Coordinators for… Read more
Kuwait's Ministry of Commerce and Industry has issued Resolution No. 156/2026 (published in the Official Gazette on 2 August 2026), further amending the Ultimate Beneficial Owner (UBO) framework under Resolution No. 4/2023. It replaces Articles 8(1), 9(1) and 11(1) which are all now built around a 15-day compliance window: Legal… Read more
Meysan acted as counsel to Kuwait Petroleum Corporation and Kuwait Oil Company on Project Peregrine, a US$16 billion strategic infrastructure investment with a global consortium led by Blackstone, Brookfield and KKR, and the largest foreign direct investment in Kuwait’s history. The transaction establishes a new Kuwaiti joint venture to manage… Read more
Meysan is pleased to have advised and assisted a major foreign manufacturing company with the settlement of certain disputes with a local distributor in Egypt. Meysan represented the client in court proceedings and other governmental procedures while negotiating the settlement transaction, which involved a complex escrow arrangement managed by a… Read more
Authors: Tarek Yehya, Partner // Lama Abou Ali, Counsel // Sara Awaly, Associate BACKGROUND In a recent update to Kuwait’s corporate governance framework, the Capital Markets Authority (the “CMA”) issued Decision No. 56 of 2026 (the “Decision”), amending certain provisions of Module Fifteen (Corporate Governance) of the CMA Executive Bylaws.… Read more