Agility Public Warehousing K S C P : Disclosure of Material information – Korek Arbitration

The decision of the ICSID tribunal is fundamentally flawed for many reasons, among other things, (i) the tribunal refused to address the merits of the regulatory decision itself as issued by the CMC expropriating Agility’s investment in the Iraqi telecom sector, claiming lack of jurisdiction, (ii) it also failed to consider or investigate incontrovertible documentary evidence confirming the corruption and payment of bribes by Sirwan Barzani to the senior-most commissioners of the CMC: Mr. Ali Al-Khuwaildi, and Dr. Safa Al Rabiee despite the corruption being reported widely in the press, including The Financial Times but was not investigated by the ICSID tribunal, (iii) the tribunal was minded to agree with the Republic of Iraq on factual matters, despite the fact that the Republic of Iraq provided no fact witnesses and virtually no documentary evidence, (iv) the tribunal summarily denied Agility’s requests for protection of the identity of its Iraqi witnesses even in circumstances where Agility’s employees were arbitrarily detained, interrogated and threatened by Iraq’s secret police in December 2019 and (v) failed to address critical arguments and failed to provide reasons for all of the decisions it made.

In short, as a result of this deeply flawed decision, Iraq has not been sanctioned for its bald expropriation of Agility and Orange investment of over $800 million.

Agility is currently considering its options to apply for annulment of the decision.

Agility is also moving expeditiously to pursue claims of more than $700 million directly against Korek, Sirwan Barzani and others, pursuant to a separate arbitration being conducted pursuant to International Chamber of Commerce rules.