by: Adv. Haggai Carmon
Gad Chemicals Ltd. (the appellant), BIP Chemicals Ltd. (the respondent), Iranian businessman Farrokh Mahboubian, and other parties, formed an enterprise in 1976 in Iran’s chemical manufacturing industry. Gad, BIP, and Mahboubian entered into a tri-party agreement which governed the financial issues related to the investment in the enterprise.
After the Islamic Revolution in Iran put an end to the enterprise operations, Mahboubian filed two claims which were heard by the
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