$120 Million Award Against the Iraqi Government

A Cyprus-based construction company faced significant obstacles during a breakwater construction project for the Iraqi government and GCPI. he ISIS invasion disrupted labor supply, causing delays beyond the company’s control. GCPI provided inaccurate soil condition data, leading to severe construction challenges.

Despite these external factors, GCPI counterclaimed $24 million in damages, blaming the company for project delays.

The company, with the help of TPF, i) filed a case against the Iraqi government and GCPI at the ICC, defending against GCPI’s $24 million claim and counterclaiming for damages caused by the delays, ii) Successfully secured a $120 million arbitral award through the ICC, proving that delays were due to GCPI’s inaccurate data and external events, iii) Seized Iraqi assets in the U.S. and initiated enforcement proceedings under the New York Convention in Washington, D.C., iv) Countered Iraq’s defenses, including sovereign immunity and claims that GCPI’s liabilities were separate from the government’s responsibility.

Through TPF-backed arbitration and enforcement efforts, the company defended against GCPI’s claim and recovered $120 million from the Iraqi government, securing a favorable resolution despite the challenges.