Nasr reaches resolution with Utsch AG, company withdraws arbitration case: Germany’s Utsch AG has agreed to withdraw the international arbitration case it filed against Egypt in regards to what was known as the “license plates” case, according to sources at the Investment and International Cooperation Ministry. Utsch and its subsidiaries had filed an international arbitration case against Egypt seeking compensation for damages in ICSID Case No. ARB/13/37 after its CEO Helmut Jungbluth was sentenced to prison in absentia. The Ministerial Committee for Settlement of Investment Contract Disputes told Enterprise that Investment and International Cooperation Minister Sahar Nasr, who spearheaded the efforts to resolve the dispute, has instructed all government entities to expedite the resolution process, which did not involve a settlement, but rather Utsch withdrawing its case altogether after more than a year of negotiations. You can find more background on the case here.

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