American investor sues Iraq in international courts to pay $ 3.4 billion dollars

[k98nights]

American investor sues Iraq in international courts to pay $ 3.4 billion dollars

22-10-2014 03:52 PM

Revealed official documents, for the establishment of an American company, to take legal action, to sue international arbitration against the Iraqi government, demanding a compensation of $ 3.4 billion dollars, as a result of exposure to physical damage, due to rescind a contract with 'no legal basis', while the Iraqi government has been to sharp criticism and accusations of corruption in awarding the contract to the company.

And abolished the Iraqi government of Prime Minister Nuri al-Maliki on 16 July, 2013, a contract was signed between the company center Basra International Oil and Gas Ltd. 'Beog' owned by the investor American John Moore, and the General Authority for Free Zones in Iraq, and who is serving to conduct a project on behalf of the 'Free Zone International Oil 'in the Khor Al-Zubair in Basra to provide logistics services for the oil and gas industry.

And sent a 'Free Zone International Petroleum' ultimatum to the Iraqi government and the Ministry of Finance and the General Authority for Free Zones, warns of the consequences of the abolition of the contract signed with 'Beog'. The warning, which was published by Web sites, including the site 'new Arab' and seen by the 'News Agency' to be 'the contract on 13 September 2012, is still valid, despite a decision by the Iraqi cabinet to rescind on July 16 (July) 2013 without any legal justification or the existence of any violation of the provisions of the contract '.

He said warning that the foreign company is still willing to complete its work and find a solution that satisfies all parties, but did not receive any positive response on this issue, forcing it to resort to international arbitration proceedings against the Iraqi government, represented by the Ministry of Finance and Free Zones Authority, and all those involved in the abolition contract.

He pointed out that the failure of the Iraqi authorities for the payment of dues will present them to the confiscation of about 3.4 billion dollars of Iraqi funds abroad, according to the arbitration claim, and specifically in the United States and Britain.

And raised the contract signed between the American company and the Iraqi Free Zones Authority sensation in economic and political circles since it was signed until the Iraqi repeal, after being hit by the Authority and the Ministry of Finance to accusations of corruption in the contract.

The Committee on the economy, investment and reconstruction has summoned the concerned parliamentary contract, and discussed the investment contracts in the free zones specialized in the field of oil and gas, as confirmed by a member of the Committee Amer winner.

The General Secretariat of the Council of Ministers that the cancellation of the contract with the American investor, came Due to oppose this project with the public interest and the law, noting that the former finance minister, Ali Shukri, display it in an emergency during the regular session of the Council of Ministers, which took place in which to cancel the contract.

But the company says that the American General Secretariat of the Council of Ministers, does not have the authority to cancel the contract, because it was in accordance with the rules of procedure of the free zones, independent of the government.

According to the current Iraqi Prime Minister Haider al-Abadi, Iraq witnessed cases of corruption during the era of former Prime Minister Nuri al-Maliki, estimated at 100 billion dollars.

http://www.ikhnews.com/index.php?page=article&id=131139

[Deborah Layne]

Wow

[NeedRv]

Maybe I can sue Iraq if this investment doesnt pan out for the dinar I bought that could end up becoming useless... haha   

[Deborah Layne]

Hey -you misspelled your username, buddy.

Lol

[gymrat76541]

Who really cares?

 

Some greedy contractor got stiffed by the government of Iraq. LOL Not exactly a lead story in the news!

[dantach]

Maybe I can sue Iraq if this investment doesnt pan out for the dinar I bought that could end up becoming useless... haha   

I've pointed it out before... one sheet of Scott Toilet Tissue is worth more than one Dinar.

[SnowGlobe7]

suing Iraq...lol...let me know how that works out for you.....ROLF

[Calijim]

Off with his head!

[Tirebiter]

TNT Tony`s rent and defense bills must be due.