Region: Egypt

A Finnish businessman who won an award against Egypt over his iron and steel business has threatened to bring a second investment treaty claim against the state over its subsequent conduct – after successfully attaching assets in Spain.

11 May 2021

An UNCITRAL tribunal has dismissed parallel treaty claims worth US$200 million brought by a Russian airline and Turkish tour operator against Egypt over the suspected bombing of an aircraft.

19 March 2021

After a previous settlement was sunk by the coronavirus pandemic, Egypt has finally concluded its long-running dispute with Spain’s Naturgy and Italy’s Eni over a gas liquefaction plant, which gave rise to a US$2 billion ICSID award and several high-value commercial arbitrations.

12 March 2021

Spanish investors in a cement plant have applied to partially annul an ICSID award that held Egypt liable but declined to award any of the €240 million they sought in damages.

08 March 2021

UPDATED: France’s highest court has upheld the enforcement of an award against an Egyptian state entity that was annulled more than a decade ago by the courts of Cairo, affirming that arguments as to the domestic or international character of the arbitration were irrelevant.

26 January 2021

A court in Cairo has upheld an ICC award requiring an Egyptian state authority to pay US$490 million to a Kuwaiti-led consortium for terminating a contract to build a container terminal facility at the port of Damietta.

14 December 2020

A US court has dismissed a renewed bid by a group of Saudi and Egyptian claimants to enforce a US$18 billion award against Saudi Aramco allegedly issued by a “sham” institution.

18 November 2020

Egyptian arbitrator Mohamed Abdel Wahab describes an important decision of Egypt's top court that considers matters including estoppel and waiver, whether foreign counsel can appear in arbitrations seated in the country, the scope of judicial review of arbitral awards and the approach to virtual hearings.

06 November 2020

A divided ICSID tribunal has held Egypt liable over its treatment of Spanish investors in a cement plant but declined to award any of the €240 million in damages sought – prompting a dissent by US arbitrator Charles N Brower.

03 November 2020

A Spanish entity has brought a US court action against Egypt and the Bank of New York Mellon – seeking to void an agreement that is allegedly enabling the state to evade payment of a US$2 billion ICSID award.

03 November 2020