KRG: Pearl Consortium Advances Arbitration

The arbitration case brought by the Pearl Consortium led by the UAE’s Dana Gas against Iraq’s Kurdistan Regional Government (KRG) over a contractual dispute has kicked off in London with the tribunal meeting for the first time to deliberate the case, MEES understands.

The tribunal includes Lord Leonard Hoffmann, a prominent arbitrator and retired Law Lord, who was one of the arbitrators in the case brought by Dow Chemical against Kuwait at the International Chamber of Commerce.

The tribunal in 2012 ruled in Dow’s favor and ordered to pay the US chemicals giant $2.2bn in compensation for a cancelled project (MEES, 4 June 2012). The case eventually led to the resignation of the then oil minister of Kuwait, Hani Husain. Also sitting on the tribunal are Lord Collins, a judge and former Justice of the UK Supreme Court, as well as ICC President John Beechie. (CONTINUED - 508 WORDS)