On 28 June, Richard Salter QC, sitting as a deputy judge of the High Court, handed down a judgement in the dispute between the two companies over the question of whether Monde – a British Virgin Islands-registered consultancy owned and run by Yassir Al-Fekaiki, a British citizen of Iraqi origin – was entitled to a 3% option in the Kurdamir field following the termination of its consultancy services agreement (CSA) with WZL in 2007. While ruling that WZL had used “misrepresentation” to induce Monde to terminate the agreement, Salter said “WZL’s wrong has… caused Monde no substantial recoverable loss”.
Subscribe to Gulf States Newsletter