Cairo Fines Baghdad A Billion Dollars Following A Contract That Was “Not Implemented”..Parliamentary Doubts About “Selling The File”
Money and business Economy News – Baghdad Baghdad lost about a billion dollars to Cairo for not complying with a contract with an Egyptian company concluded in 2001 that it did not implement, in a case before a court in Cairo, in which the complainant and the lawyers were Egyptian, according to a member of the Parliamentary Transport and Communications Committee.
According to a decision by the Egyptian Arbitration Court, Iraq must pay $927 million in compensation to an Egyptian aviation services company called “Horse” that was previously contracted with, but the Iraqi Airways Company and the Ministry of Transport did not comply with it.
In this context, a member of the Parliamentary Economics and Communications Committee, Karwan Yarois, explains that there are doubts that “the file was sold in some way because it is not true,” according to the Rudaw network.
He pointed out that "the complainant is an Egyptian company, and the arbitration court is in Egypt, and the Iraqi lawyer's team consists of two Egyptian lawyers, one of whom is an employee of Iraqi Airlines itself."
It is not permissible in law for an employee to “practice law at the same time,” according to Karwan Yarois, who revealed that the Egyptian employee “was contracted as a lawyer in the case for $400,000.”
Information indicates that the value of the contract amounted to $97 million, while compensation was set at $927 million.
For its part, the Iraqi government began negotiations with the Egyptian government to pay this amount through crude oil.
In turn, Yasser Al-Husseini, a member of the Parliamentary Economics Committee, confirms that the compensation “burdens the government’s burden and causes a waste of public money and many financial violations, and next week we will have an announced position on all issues and take it towards the judiciary and the government to address this matter”...
The decision of the Egyptian Arbitration Court to impose compensation of $927 million on Iraq because of the “Horse” company comes while it had been classified by an Egyptian court decision on (October 25, 2015) as a company affiliated with the Muslim Brotherhood and included in the list of banned companies.
According to follow-ups conducted by the Iraqi Parliament, the contract dates back to 2001, and the previous regime concluded it for the motive of espionage and for political purposes, but in 2005 Iraq renewed this contract again, resulting in the loss of millions of dollars.
205 views 02/08/2024 - https://economy-news.net/content.php?id=40265
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