Golden Pyramids Plaza says Orascom Construction Industries (OCI) and Consolidated Contractors International began sequestering some of its assets “without any legal basis,” according to a bourse disclosure. Golden Pyramids Plaza says it is taking immediate legal action against OCI, asking for the sequestration to be annulled. The company also says the move does not have any significant impact on its financial health. A court of arbitration had ordered Golden Pyramids to pay OCI EGP 260.8 mn and USD 43.4 mn plus interest in March 2015, but the former appealed a number of times the last of which was rejected in a 15 July hearing.

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