Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."




Join Us for Dinar Discussions and More -- We Keep it REAL
 
HomeSearchMemberlistFAQLog inRegister
Help Us Drain the SWAMP in DINARLAND

REPORT TONY RENFROW for violating his Court Order to stay away from Dinar -

Judge's email: ksd_murguia_chambers@ksd.uscourts.gov
PHONE - 913-735-2340

DA's email: Scott.Rask@usdoj.gov
PHONE - 913-551-6730
DINAR INFORMATION LINKS

PARTNER SITES
Key Words
Adam Montana, AdminBill, Benjamin Fulford, Currency Exchange, David Schmidt, Dinar, Dinar Guru, Dinar Recaps, Dinar Rv, Dinar Scam, Dr Clarke, Frank26, Gary Larrabee, Gurus, Guru Hunters, JerzyBabkowski, Kaperoni, Kenny, Monetary Reform, Mnt Goat, My Ladies, Okie, Poppy, RamblerNash, Ray Renfrow, Redenomination, Revaluation, Ssmith, TNTBS, Tnt Tony, WING IT, We Are The People, Willis Clark, WSOMN, Yosef, Zap
Post new topic   Reply to topic
Share | 
 

 Orange turns up heat in Iraq legal battle

Go down 
AuthorMessage
GirlBye
VIP Member
VIP Member
avatar

Posts : 473
Join date : 2018-07-09
Location : So Cal

PostSubject: Orange turns up heat in Iraq legal battle   Mon Nov 05, 2018 10:40 pm




Orange Group and a Kuwaiti company with which it formed a joint venture in Iraq to invest in operator Korek Telecom, expanded a US lawsuit with an allegation there was corruption among local shareholders, Financial Times (FT) reported.


The France-based operator and Agility Public Warehousing petitioned the Southern District of New York to subpoena financial information from five banks including Citibank and HSBC, in the hope of proving there was “self-dealing, material misappropriation and mismanagement” by local shareholders, led by businessman Sirwan Barzani.


Orange’s lawsuit relates to a $150 million loan taken out by Korek Telecom from a Lebanese bank in December 2011, which was arranged without the knowledge of the Iraq Telecom joint venture. The JV acquired a 44 per cent stake in Korek Telecom the same year for $810 million, as part of a broader plan to eventually take over the company.


Iraq Telecom said Barzani profited from the loan at Korek Telecom’s expense after the funds were apparently moved between various accounts belonging to the operator and businessman.


Agility and Orange also claim regulatory officials were bribed to block Iraq Telecom’s plans to take control of Korek Telecom.


A Korek Telecom representative branded the new filing part of a “scorched earth” campaign to destroy the company, adding Iraq Telecom was “grossly misrepresenting and mis-characterising facts”.


Meanwhile an Orange representative told FT: “Orange takes the issues raised in the petition very seriously…Iraq Telecom has pursued various means by which to further reveal and rectify the self-dealing and misappropriations that Barzani and others are engaged in”.
Separately, Agility last month filed an international arbitration claim, seeking damages of $600 million.


https://www.mobileworldlive.com/featured-content/top-three/orange-turns-up-heat-in-iraq-legal-battle/
Back to top Go down
View user profile Online
 
Orange turns up heat in Iraq legal battle
Back to top 
Page 1 of 1

Permissions in this forum:You can reply to topics in this forum
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS-
Post new topic   Reply to topicJump to: