Kuwait's Agility is settling a $ 95 million dispute with America

by **RamblerNash** Sat May 27, 2017 9:16 pm

Kuwait's Agility is settling a $ 95 million dispute with America

27-05-2017 02:40 PM

The Euphrates -
Kuwait's Agility Public Warehousing Company has reached a comprehensive settlement of issues related to US government contracts for the supply of foodstuffs to which it was a party between 2003 and 2010, to pay $ 95 million. As confirmed by the US Department of Justice.

The company said in a statement that it had agreed to pay US $ 95 million in cash for civil proceedings, adding that it had agreed with the US government to waive all contractual claims arising from the food supply contracts.

Earlier, the Kuwaiti company agreed to 'claim material damage' to a single bill of $ 551, which would require it to return the money to the government without any penalty.

These seven-year contracts included some 200,000 US government bills valued at more than $ 8.6 billion. The settlement under this agreement includes the resolution of all legal issues arising out of these contracts with the US Government concerning Agility's employees, directors, officers and subsidiaries.

According to the statement, the terms of the settlement would be conditional upon the approval of the final court. This settlement will also allow Agility to resume US government contracts again.

Agility, listed in Kuwait and Dubai, is involved in the establishment, management and leasing of warehouses under the customs control of more than 500 offices in more than 100 countries in Africa, Asia, the Middle East and South America. The company was in talks to settle charges of manipulating the prices of supply contracts for the US military in Iraq, Kuwait and Jordan.

Kuwait was a major logistics base for US forces after the US invasion of Iraq in 2003.

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