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.
Subject: Risk and Claims Management in Light of Current Geopolitical Circumstances and Disruptions to Some Business Activities In light of the geopolitical developments and the ongoing war in the region, and the resulting economic and operational impacts, including the disruption of some business activities or the temporary closure of facilities,… Read more
Law No. (10) of 2026 Regulating the Digital Commerce Sector Law No. (10) of 2026 regarding the regulation of the digital commerce sector in Kuwait establishes a legal framework governing commercial activities conducted through digital and electronic platforms within the State of Kuwait. The law aims at regulating the expanding… Read more
Meysan Lawyers & Legal Consultants is pleased to announce its role as legal advisor to Dawi, a Kuwait-based digital health platform enabling patients to access premium healthcare services across the region, in connection with its strategic partnership with Cleveland Clinic Abu Dhabi, a Mubadala Health partner. Through this partnership, Dawi… Read more
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