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Case dismissed against wheat exporter AWB

Case dismissed against wheat exporter AWB article image
Wheat exporter AWB has defeated a class action against groups of residents in three regions of Iraq that had banded together over the Iraqi oil-for-food scandal. The residents claimed that because AWB had paid $300 million in kickbacks to Saddam Hussein's regime it had negatively affected the United Nations' oil-for-food escrow system and deprived them of humanitarian assistance, and alleged a commercial conspiracy. The original ruling, finding in favour of AWB and others involved in the scandal last year, stands after the US Court of Appeals rejected the class appeal. However, AWB still faces two more legal cases with regard to the scandal, including one against shareholders to be held in Sydney, and one with 92 other companies against the Iraqi Government in the USA. In other news, the AWB has settled commercial issues between it and the Ministry of Trade and the Grain Board of Iraq after signing a deed of settlement. The ministry had concerns about the quality of product, and disputes over demurrage charges had led to AWB stopping trade until the issues could be resolved. "The finalisation of these commercial issues with the Ministry of Trade and the Grain Board of Iraq opens the way for AWB to export wheat to Iraq in the future," said AWB managing director Gordon Davis in a statement.

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