Dealmaker: Al Yousef

Source: Wikileaks.org

Today WikiLeaks publishes a secret document from the International Chamber of Commerce (ICC) International Court of Arbitration, pertaining to a dispute over commission payment in relation to a $3.6 billion arms deal between French state-owned company GIAT Industries SA (now Nexter Systems) and the United Arab Emirates (UAE). The agreement was for the sale of 388 Leclerc combat tanks, 46 armoured vehicles, 2 training tanks, spare parts and ammunition. It was signed in 1993 and scheduled to be completed in 2008.

The case brought before the ICC arbitration tribunal was a claim from Abbas Ibrahim Yousef Al Yousef, a UAE businessman, that GIAT had not honoured a contract to pay him a 6,5% commission on the deal or almost $235 million total.

(Read more at Wikileaks.org)

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