At the heart of the litigation is a claim for enforcement of the Kuwaiti court’s $490 million judgment against the Kurdistan Regional Government. However, with the arbitration proceeding ongoing, the U.S. judge has ruled it is better to wait and see how that dispute unfolds before moving forward with the U.S. case.
The parties involved in the dispute have yet to comment on the ruling. Alcazar Capital Partners is represented by Quinn Emanuel Urquhart & Sullivan LLP and Skadden Arps Slate Meagher & Flom LLP, while the Kurdistan Regional Government is represented by Arnold & Porter Kaye Scholer LLP.
The case is Alcazar Capital Partners Co. v. Kurdistan Regional Government of Iraq, case number 1:23-cv-00186, in the U.S. District Court for the Southern District of New York.
