Iraq: Monde-WesternZagros trial in April


Issue 1009 - 05 Feb 2016 | 1 minute read

Monde Petroleum’s claim against TSX Venture Exchange-listed WesternZagros Ltd (WZL) over oil rights in Iraqi Kurdistan is scheduled to come before London’s Commercial Court in April. Monde’s lawyer Candey told GSN the hearings were expected to last for around six days. A procedural victory in January 2015 allowed Monde, a consultancy owned by well-connected Iraqi Kurd Yassir Al-Fekaiki, to bring a case in the UK courts against WZL, rather than solely going to arbitration (GSN 998/10). If successful, Monde will claim fees and potentially earnings from the 3% stake in the Kurdamir block, to which it claims it was entitled under a 2007 consultancy agreement with WZL; Monde says that was wrongfully terminated.

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