Region: Egypt

Egypt settles with Finnish iron investor

Egypt has reached an agreement with a Finnish businessman to settle a treaty award worth US$121 million over the loss of his iron and steel investments – ending a dispute that led to enforcement actions across three continents and a second treaty claim over the state’s refusal to pay.

09 December 2021

Egypt fails to overturn Finnish investor’s award

A Finnish businessman has seen his US$121 million investment treaty award against Egypt upheld in the Dutch courts, at the same time failing to revive an attachment over a state-owned property in The Hague.

23 November 2021

Egypt reports win against Bahraini hotel investor

Egypt has defeated a treaty claim worth US$60 million by a Bahraini investor in a five-star hotel project in Cairo.

15 November 2021

Egypt faces another cement claim

Egypt is facing a new ICSID claim by a German company over alleged interference in a cement business, while a PCA claim brought against it by Qatar has been discontinued.

21 October 2021

New law casts doubt on enforcement against Egypt

Practitioners in Egypt have expressed concern at a new law granting the Supreme Constitutional Court the power to invalidate decisions rendered against the state by international institutions, despite a last-minute change to the bill to remove express mention of arbitration.

16 September 2021

Egyptian investors threaten Ethiopia over civil war disruption

Two Egyptian manufacturers have threatened to file a treaty claim against Ethiopia after allegedly sustaining up to US$40 million in losses due to disruption caused by an ongoing civil war in the country.

09 September 2021

Australian investors settle mining claim against Egypt

Australian investors have settled a third-party funded ICSID claim against Egypt over the alleged expropriation of their stake in a mining project.

31 August 2021

Finnish investor launches second claim against Egypt

A Finnish businessman has made good on his threat to file a US$500 million investment treaty claim against Egypt over alleged expropriatory behaviour committed by the state after it lost a prior treaty arbitration.

17 August 2021

Mega-award against Chevron blocked again in US

The heirs of a Saudi official have once again failed to enforce an US$18 billion award against Chevron in the United States, as their counsel face the prospect of court sanctions for allegedly relying on a “fabricated” news article.

17 August 2021

Egypt’s top court overturns port project award

Egypt’s Court of Cassation has set aside a US$490 million ICC award against an Egyptian state authority over its termination of a contract to build a container terminal facility, a decision it is said could have broad implications for disputes arising from similar agreements.

02 August 2021

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