Dow Announces $2.16 Billion Award in K-Dow Arbitration

The International Court of Arbitration of the International Chamber of Commerce this morning released its findings in the arbitration case between The Dow Chemical Company DOW and Petrochemical Industries Company of Kuwait (PIC) relating to the K-Dow transaction. The ICC award holds that PIC was liable, and awards damages to Dow of $2.16 billion, not including interest and costs. Dow and PIC mutually agreed to resolve their contractual disputes through arbitration before the ICC, which is comprised of preeminent legal experts with experience in high-value commercial litigation. The award is final and binding.