The Kuwaiti logistics company Agility said on Tuesday it was awarded more than $1 billion in a dispute with the Iraqi Kurdish telecom firm Korek.
Agility said the Paris-based International Court of Arbitration released its findings on Monday in the case by Agility subsidiary Iraq Telecom and affiliate International Holdings Limited against Korek Telecom and its founder, Sirwan Barzani. Agility had alleged the two engaged in fraud and corruption to expropriate its $810 million investment in Korek. The court found Korek liable and awarded $1.65 billion in damages to Agility, the company said in a statement.