Summary

First: Facts and Proceedings of the Arbitration:

(1) On 3/1/2001, Horse Travel Company "S.A.E." (a company under seizure since 25/10/2015) - hereinafter referred to as the "Claimant" entered into an agreement entitled the "General Sales Agency Agreement" with Iraqi Airways (an entity affiliated to the Iraqi Ministry of Transport) - hereinafter referred to as the "First Respondent". The Iraqi Ministry of Transport, legally represented by the Iraqi Minister of Transport, is hereinafter referred to as the "Second Respondent." Pursuant to Article 16 thereof, the Parties agreed that, in the event of any dispute arising out of or relating to the interpretation or implementation of the Agreement, they shall exert their utmost efforts to resolve such dispute amicably by appropriate means within a period of three (3) days only. Failing such resolution, they shall constitute an Arbitral Tribunal in accordance with the method prescribed in that Article, which, together with Article 16 of the Annex to the principal General Sales Agency Agreement concluded on 15/3/2001, constitutes the arbitration agreement.