December 12, 2022

Riad & Riad Closes a Settlement of € 40 Million Construction DIAC Arbitration Case

Riad & Riad is thrilled to succeed in closing a settlement arrangement between one of the leading energy companies in the Middle East and a major state-owned Chinese EPC contractor.

The parties had a Euro 40 million construction arbitration dispute under the rules of Dubai International Arbitration Center (DIAC). The dispute was relating to delay in implementing and commissioning of a 54 MW solar power plant, construction defects, completion of remedial works, penalties for breaches, performance and delay liquidated damages.

The arbitration case raised interesting legal questions about the joinder of disputes arising under multiple contracts and consolidation of proceedings.

Riad & Riad team led by Dr. Fatma Salah and Mohamed Riad acted as the claimant’s legal counsel in the arbitration case before DIAC and had played a pivotal role in the negotiation and drafting the settlement agreement and get case settled amicably.

Riad & Riad has a specialized Arbitration team with extensive experience in handling high-value ad-hoc as well as institutional arbitrations according to the rules applicable at major arbitration institutes including ICC, ICSID, DIAC and CRCICA. For more information about our arbitration practice, click here.

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