German Cement Investor’s Claims Against Iraq Dismissed By ICSID Tribunal

Mealey's (November 21, 2022, 10:12 AM EST) -- WASHINGTON, D.C. — An International Centre for Settlement of Investment Disputes (ICSID) tribunal dismissed all claims brought by a German investor against the Republic of Iraq for allegedly causing it nearly $890 million in damages by expropriating its industrial investments in Iraq and Kurdistan, writing that it lacks jurisdiction because Germany “never ratified” a bilateral investment treaty (BIT) with Iraq and no other treaty or contract creates jurisdiction....

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