Akin Wins Billion Dollar Arbitral Award for Agility
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(Dubai) - On September 9, 2024, Akin secured a $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.
Akin head of Middle East disputes, Graham Lovett commented, “We are delighted to have acted for Agility in this case and to have secured a significant $1.3 billion award for their subsidiary, Iraq Telecom. This follows Akin’s recent, successful defence of a DIFC Court application to set aside a related arbitral award in Iraq Telecom’s favour, valued at $1.7 billion. Our client now moves on to the enforcement phase in connection with its total award entitlement of $3 billion.”
The Akin team, led by Graham Lovett and international disputes counsel Michael Stewart, acted as primary counsel, both conducting the advocacy at the two merits hearings.
You can read further about the case here.
Akin is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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