Iraq Wins $1 Billion Arbitration Dispute Against German Company

The Iraq wins $1 billion arbitration dispute against a German company after a lengthy legal battle. The Iraqi Ministry of Justice announced the success of its legal team in securing a favorable ruling. This victory comes after a tribunal rejected a claim for $1 billion in damages by the German company AHG.The dispute arose from an agreement between the Iraqi Cement Company and AHG, regarding the rehabilitation and operation of the Kirkuk cement plant. AHG sought substantial compensation, citing issues related to the contract. The case was presented before the International Centre for Settlement of Investment Disputes (ICSID).According to the Ministry of Justice, the Iraq wins $1 billion arbitration dispute, ending a long-standing legal challenge. The legal department worked diligently to represent Iraq’s interests in the matter. The team followed the case closely since 2018, engaging in multiple hearings and legal procedures to ensure a fair outcome.Heitham Mahy Rady, the Director General of the Legal Department, shared his satisfaction with the outcome. He highlighted the importance of this legal win in reinforcing Iraq’s position in international courts. He also noted the impact of this decision on safeguarding Iraq’s rights in the future.This victory not only resolves the dispute but also strengthens Iraq’s legal standing in international affairs. The Ministry of Justice’s success reflects its ongoing efforts to protect the country’s legal and economic interests globally. As such, the Iraq wins $1 billion arbitration dispute represents a significant achievement for Iraq in the international arena.Looking ahead, the Ministry of Justice remains committed to defending Iraq’s rights in future legal cases. This landmark decision serves as a precedent, demonstrating the government’s dedication to protecting the nation’s interests in international disputes.