Peregraf
The Kurdistan Region’s Ministry of Finance announced that, based on its request and court rulings, 60 properties belonging to Nalia and Chavi companies have been seized due to outstanding debts exceeding 91 billion dinars.
The Ministry said in a statement that the properties—which include land plots, hotels, cafeterias, and tourist cabins—will be sold in a public auction to recover debts owed to the Ministry of Finance and Economy.
These companies were previously associated with Shaswar Abdulwahid, who later entered politics and founded the New Generation movement. Abdulwahid has publicly stated that he no longer owns the properties, claiming to have sold them before his political career.
The Ministry’s statement clarified that the seizure follows multiple legal decisions, including a ruling by the Kurdistan Region’s Court of Cassation in 2021 in favor of the Ministry and subsequent enforcement orders issued by the Sulaymaniyah courts in 2024. Nalia Company had appealed the enforcement decision, but the appeal was rejected.
According to the Ministry, earlier attempts in 2021 to sell four land plots belonging to Nalia failed due to zoning restrictions and misvaluation issues. The process was suspended until a reassessment identified 60 properties deemed eligible for sale.
The Ministry further noted that the action was taken after repeated notifications to Nalia Company to repay its debts were ignored. At the request of Sulaymaniyah Bank One, affiliated with the General Directorate of Commercial Banks, the Ministry said it is exercising its legal right to auction the assets.
The Ministry invited interested buyers to participate in the upcoming auction once it is announced in the official gazette.