ساويرس ‫‬ حيطلع دين اللي خلفوكم لو ضايقتوه

Quote: H&H Enterprises Investments Wins Jurisdiction Ruling in Arbitration with Government of Egypt (June 7, 2012, Weil News) A tribunal at the International Centre for Settlement of Investment Disputes (ICSID) has ruled that a $200 million dispute between H&H Enterprises Investments Inc., a California real estate company, and the government of Egypt over a resort on the Red Sea is subject to arbitration and can proceed. The dispute stems from the Egyptian government’s request for foreign investors to help redevelop the Ain El Sokhna Hotel on the Red Sea Coast. H&H Enterprises made a proposal for the purchase of the property in 1989, signing a management and operation contract (MOC) and option-to-buy several months later. After investing nearly $10 million to refurbish the hotel and develop the surrounding area, and with the resort nearly operational, the Egyptian government allegedly refused to grant H&H Enterprises an official license. H&H Enterprises initiated an arbitration pursuant to the Bilateral Investment Treaty between the US and Egypt (BIT), which protects investments between countries from being misappropriated. The Egyptian government argued that the BIT did not apply because H&H Enterprise’s investment was made before the treaty came into force and that, while the MOC is valid, there was never a contract for the sale of the property. Moreover, the Egyptian government argued, H&H Enterprises waived its right to arbitration by participating in previous litigation in an Egyptian court. The ICSID tribunal rejected the Egyptian government’s arguments, holding that H&H Enterprises had clearly made an investment. The tribunal joined the question of the exact nature of the investment and whether it constituted an option-to-buy to the upcoming merits assessment in the dispute. H&H Enterprises is represented by Arif Ali, co-head of Weil’s International Arbitration practice, along with lawyers from Crowell and Moring and the Shalakany Law Office. Print This Page Email This Page Related Links International Arbitration Ali, Arif H.