Iraq Telecom Limited v IBL Bank SAL - United States District Court Southern District of New York Case No 1-21-cv-10940 - Opinion and Order - 8 April 2022
Iraq Telecom Ltd. ("Iraq Telecom") has petitioned to confirm a foreign arbitration award (the "Award") in the amount of $3 million against Intercontinental Bank of Lebanon S.A.L. ("IBL"). IBL opposes the petition and, in the alternative, seeks a stay of any confirmation pending the resolution of its annulment action in Lebanon. For the following reasons, the Award is confirmed.