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Dubai: The Kuwaiti company Agility gets another opportunity to reclaim its legacy investment in an Iraqi telecom firm. The charges brought by Agility relate to more than $380 million in diverted funds.
This marks quite a turnaround for Agility, because three years ago, an international arbitration tribunal – under the International Centre for the Settlement of Investment Disputes (ICSID) – had in fact denied claims filed by the company that ‘Iraqi officials had expropriated more than $380 million invested by Agility in an Iraqi telecom company’.
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