Kuwait City, Kuwait – Meysan Partners, advised Agility on its successful global settlement of the case involving the US government food-supply contracts that company held from 2003 to 2010.
In the criminal portion of the case, Agility agreed to plead to a misdemeanor in connection with a single invoice valued at $551. The misdemeanor is a minor offense, unrelated to any of the original criminal charges. In the parallel civil proceedings of the case, the company agreed to pay $95 million in cash. The settlement will resolved all legal issues related to these contracts for agility employees, directors, officers and affiliates. The settlement will also allow Agility to resume the pursuit of new US government contracts.
Meysan’s Senior Partner, Bader El-Jeaan, stated, “We are honored that we could assist Agility in this outstanding achievement. We need to acknowledge, however, that our role was secondary to that of Agility’s own Vice Chairman and CEO, Tarek Sultan, who provided the leadership and strategy for the defense of these claims for over 8 years. He truly deserves his place as one of the world’s most dynamic corporate leaders. I am certain that the settlement will remove uncertainly for Agility’s investors, lenders, and other stakeholders, and will open wealth of new government and commercial contacting opportunities which Agility will benefit from” El-Jeaan said.