Region: Egypt

ICSID creditor sues New York bank over Egypt funds

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

Waste company brings ICSID claim against Egypt

An Italian waste management company has brought an ICSID claim against Egypt.

02 November 2020

Panels in place to hear Qatar's postal claims

Four tribunals are in place at the Permanent Court of Arbitration to hear claims by Qatar against its Middle Eastern neighbours over the suspension of postal services as part of their continuing blockade of the country.

15 September 2020

Finnish investor takes Egypt award to US court

A Finnish businessman has asked a US court to enforce an investment treaty award worth more than US$115 million he won against Egypt over the loss of his iron and steel business and his imprisonment – the fourth jurisdiction where he has sought enforcement.

10 August 2020

Egyptian court hears billion-dollar BIT claim

A Cairo administrative court is hearing an unusual investment treaty claim worth US$1 billion brought by a Thai state-owned investor in a troubled gas pipeline between Egypt and Israel, GAR has learned.

20 July 2020

Dutch court lifts freeze on Egyptian property

A Dutch court has lifted an attachment over an unoccupied property in The Hague that was frozen at the request of a Finnish businessman seeking to enforce an investment treaty award against Egypt, after the state said it planned to use the building as its ambassador’s residence once again.

13 July 2020

Egypt gets stay of US$2 billion award

A US court has stayed the enforcement of a US$2 billion ICSID award against Egypt while the state pursues annulment proceedings – noting the potential impact on the country’s finances while it faces an economic crisis exacerbated by the coronavirus pandemic.

09 June 2020

Egyptian property attached in the Netherlands

A former residence of the Egyptian ambassador in The Hague has been attached at the request of a Finnish businessman seeking to enforce a US$115 million investment treaty award.

27 April 2020

Egypt liable over jailing of businessman

A Finnish businessman has been awarded US$115 million in a third party funded treaty claim against Egypt over the loss of his iron and steel business and his imprisonment – as the state applies to a Dutch court to set the award aside.

24 April 2020

Egypt

Featured in The Middle Eastern and African Arbitration Review 2020

20 April 2020

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