Region: Egypt

Saudi Aramco again escapes US$18 billion enforcement bid

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

Egypt's top court issues wide-ranging decision

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

Egypt liable but escapes damages in cement dispute

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

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

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