Riad & Riad has achieved a victory on behalf of their client, a Korean EPC construction company, in a high-stakes $34.5 million construction dispute. The dispute arose from a direct claim brought against the Korean company by one of its subcontractors, concerning the construction of a major project in Egypt.
The subcontractor’s claim was rooted in a limited statutory right afforded to subcontractors, allowing them to pursue the project’s employer for allegedly unpaid amounts under the subcontract. However, Riad & Riad successfully navigated the complexities of the case and secured a favourable outcome for their client.
The team was led by Partner Fatma Salah (pictured), Senior Associate Ahmed Waheed and Associate Mohamed Youssef.