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Gunvor fraud claim against Iraqi partners dismissed due to arbitration clause

A Virginia court has approved the defendants’ appeal to dismiss the case of Gunvor SA versus Kayablian et al. Swiss-based commodities trader Gunvor had filed its complaint against US-based brothers Arman and Lawrence Kayablian and their Amira Group in July, demanding $33.3m in damages and alleging fraudulent conduct. Gunvor’s claim was supported by hundreds of pages of documents, which shed light on how Iraqi oil lifting contracts are carried out.

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African Energy Gulf States Newsletter