Litigation success

Kuwait is in disputes with Iraq Airways, claiming about $1.2bn (KD 336m) related to aircraft and parts seized during Saddam Hussein’s 1990-91 invasion.

When the first Iraqi Airways flight from Baghdad to London for 20 years was impounded at London’s Gatwick Airport. That is right, impounded. And an attempted repossession took place. How do you repo a plan, seriously? Does that fancy “tire lock” that the traffic cops use work on planes? Did they jack the keys?

Iraq however, has an extremely efficient ace-in-the-hole.

File for bankruptcy.

Upon declaring bankruptcy, and simply “renaming” the company to, lets say, Iraqia Airways, Kuwait would have no claims on them.

Technically.

On a COMPLETELY separate note, Kuwait swung to a budget surplus of 8.18 billion dinars ($28.21 billion) in the 2009/10 fiscal year compared to a forecast 4.9 billion deficit, helped by far higher-than-expected oil revenue and tighter spending…

What they are claiming from Iraq is a mere 4% of the budget surplus, for those who are not mathematically savvy.

Robin Hood, your services are direly requested..

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