Most costs are awarded to the claimants, though costs of gathering evidence that was not relied upon are discounted

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English law rule against reflective losses does not apply in context where claimants were shareholders “in name only” in Korek

IBL loan conspiracy caused loss to ITL

Respondents conspired to enter into punitive loan that enriched Mr. Barzani at the expense of ITL

Respondents are not privies to parties in earlier arbitration, therefore the tribunal sees no issue estoppel

Multiple transactions between Korek and entities related to Iraqi partners should have been disclosed

Declaratory relief must serve a useful purpose

Bribery acts result in breaches of contractual and corporate law obligations

Overall evidence indicates that bribes were funnelled to the regulator by the respondents to obtain decision against foreign partners

No evidence that damaging document was forged, as respondents failed to avail themselves of authentication procedures

Evidence obtained from US courts indicates that CMC officials purchased expensive real estate property in London, suggesting bribes

Tribunal seeks to protect anonymous sources in witness statements

Lack of evidence from respondents’ side, and absence of main witness, weigh heavily in the balance

Attitude of local business partners evidences conspiracy to defraud foreign investors

Parties cannot contractually shield themselves from allegations of breaches of public policy

Act of state doctrine is inapplicable as claims do not challenge validity of Iraqi sovereign conduct; in any event, the doctrine cannot bar bribery claims

Standard of proof is balance of probabilities, including for bribery claims

Tribunal grants provisional measures and seeks to make the respondents comply with them

Tribunal has procedural power to consider derivative claims

Parties agree on appointment process

Background: Iraqi telecom deal goes sour as foreign investors spar with local partner

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