ICSID Committee Rejects Request For Annulment Of Award For Egypt

ICSID Committee Rejects Request For Annulment Of Award For Egypt

PARIS - An ad hoc committee for the International Center for Settlement of Investment Disputes (ICSID) on July 8 released its decision on a U.K. company's application for annulment of an award that rejected its claims based on the principle of compensation for expropriation asserted against the Arab Republic, finding that the tribunal did not exceed its powers when it relied on a previous award issued by an Egyptian tribunal and accepted its interpretation of applicable Egyptian law (Malicorp Limited v. The Arab Republic of Egypt, No. ARB/08/18, ICSID).

Find full version on lexis Advance®
Access this news story on lexis.com®