Adam_El Shalakany

Shalakany successfully defends a client in ICC Arbitration 

Shalakany has successfully defended its client, a major regional real estate developer in Egypt and the Middle East, in an ICC Arbitration case filed against the client. The dispute stemmed from four construction contracts related to a residential complex in the MENA region. The Tribunal’s final award ordered the opposing party (the contractor) to pay the client (the employer) an amount of EGP 350 million (approx. USD11.4 million), plus interest that continues to accrue until full payment. 

The ICC Arbitration was filed by the opposing party back in June 2020. In light of Shalakany’s advice, the client pursued its own counter-claims in the Arbitration. The total value of opposing party’s claims was circa. EGP 144 million and USD 1.5 million, while the total value of the client’s counter-claim was circa. EGP 360 million. Shalakany successfully reduced the opposing party’s claims by 96%, while the Tribunal awarded our client almost 90% of its counterclaims. 

The Shalakany team handling this matter was led by Adam El Shalakany (senior partner, pictured) and comprised Muhammad Ussama (partner), Nadine Nassef (associate), Ragya Shoukry (associate) and Farida Hegazy (associate). 

Shalakany successfully defends a client in ICC Arbitration 

suzan.taha@lcpublishinggroup.it

legalcommunitymena.com

Launched in 2022 by LC Publishing Group S.p.A., it is the first digital portal addressed to the Middle East North Africa market.

In terms of contents, the website focuses on both law firms and in-house legal departments, covering the latest news and rumors on deals and operations (and the related advisors) as well as on lateral hires, moves and new appointmens and providing insights, analytical data and opinions on the professions’ main trends and topics (AI, innovation, etc.).

For further information, please visit the Group’s website www.lcpublishinggroup.com

Legalcommunity MENA
LC Publishing Group S.p.A. – Via Tolstoi 10 – 20146 Milano – Tel. 0236727659 – C.F./P.IVA 07619210961
REA 1971432 Registro delle Imprese di Milano – Cap. Soc. Euro 50.000,00 i.v.

Copyright 2023 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram