April 2, 2018

Riad & Riad Scores a EGP 120 Million Award in Arbitration before CRCICA

Riad & Riad successfully secured an EGP 120 million award in favour of a major Chinese automotive company in a dispute with its local partner in Egypt before CRCICA (Cairo Regional Centre for International Commercial Arbitration).

The arbitral tribunal unanimously held the termination of the cooperation agreement between the disputants and a compensation of EGP 114 million to the claiming automotive company plus recovery of arbitration fees and costs.

The claimant selected Dr. Mohamed Abdel Wahab of Zulficar & Partners law firm as its arbitrator while Mahmoud Fahmy is selected for the respondent and Dr. Mohamed Gomaa of Zaki Hashim law firm as the Chairman.

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