{"id":563689,"date":"2021-07-13T04:00:49","date_gmt":"2021-07-13T04:00:49","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/13\/court-overturns-usd-494-mn-arbitration-ruling-against-damietta-port-authority\/"},"modified":"2021-07-13T04:00:49","modified_gmt":"2021-07-13T04:00:49","slug":"court-overturns-usd-494-mn-arbitration-ruling-against-damietta-port-authority","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/13\/court-overturns-usd-494-mn-arbitration-ruling-against-damietta-port-authority\/","title":{"rendered":"Court overturns USD 494 mn arbitration ruling against Damietta Port Authority"},"content":{"rendered":"

<\/a> T<\/strong>he Cairo Court of Cassation has overturned an International Court of Arbitration (ICC) <\/strong>ruling <\/strong>against Damietta Port Authority<\/strong> that had obliged it to pay USD 494 mn in compensation to the Damietta International Ports Company (DIPCO), according to a statement (pdf)<\/a>.<\/p>\n

The ruling is the latest development in a five-year-old dispute between the two sides over the termination of a contract to construct a container terminal at Damietta Port, <\/strong>after the ICC tribunal had slapped last year<\/a> the DPA with the fine. The DPA had initially lost its appeal against the fine in December 2020<\/a> after the Cairo Court of Appeals upheld the ICC\u2019s ruling. DIPCO was awarded the contract in 2006, which was then annulled in 2015 by DPA, who claimed DIPCO had failed to adhere to the agreed time frame.<\/p>\n

Advisors:<\/strong> Cairo-based Youssef & Partners and US-based Crowell & Moring represented DIPCO in the arbitration, while Sarie ElDin & Partners represented DPA. MAS law firm also acted for DIPCO in the litigation, while Sarie El Din & Partners acted for DPA.<\/p>\n

INVESTMENT WATCH-<\/strong><\/p>\n

The Transport Ministry is reportedly set to sign in <\/strong>September or October new contracts<\/strong> with Italy\u2019s <\/strong>Eurogate<\/a><\/strong> for the management and operation of the container terminal, sources close to the agreement told Enterprise yesterday. The first phase of the project should cost EUR 700 mn, of which Eurogate will pay EUR 400 mn and the DPA funding the remainder. The second phase of the terminal\u2019s development should also include the extension of several rail lines from various sea and land ports to the terminal, and will take place starting 2025, the sources said.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Cairo Court of Cassation has overturned an International Court of Arbitration (ICC) ruling against Damietta Port Authority that had obliged it to pay USD 494 mn in compensation to the Damietta International Ports Company (DIPCO), according to a statement (pdf). The ruling is the latest development in a five-year-old dispute between the two sides […]<\/p>\n","protected":false},"author":1,"featured_media":563690,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8678],"tags":[956,957,72,411,862,4136],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dispute-watch","tag-damietta-international-ports-company","tag-dispute-watch","tag-enterpriseam","tag-judiciary","tag-supreme-constitutional-court","tag-youssef-partners","wpautop","entry"],"acf":{"mongo_id":"c9c41955-7271-4427-bf9e-494acd85cc30","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/183.jpg","photo_position":"above","related_issue":[563683],"teaser":"","voice_url":""},"yoast_head":"\nCourt overturns USD 494 mn arbitration ruling against Damietta Port Authority - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/13\/court-overturns-usd-494-mn-arbitration-ruling-against-damietta-port-authority\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Court overturns USD 494 mn arbitration ruling against Damietta Port Authority\" \/>\n<meta property=\"og:description\" content=\"The Cairo Court of Cassation has overturned an International Court of Arbitration (ICC) ruling against Damietta Port Authority that had obliged it to pay USD 494 mn in compensation to the Damietta International Ports Company (DIPCO), according to a statement (pdf). The ruling is the latest development in a five-year-old dispute between the two sides […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/13\/court-overturns-usd-494-mn-arbitration-ruling-against-damietta-port-authority\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-13T04:00:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/183.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/13\/court-overturns-usd-494-mn-arbitration-ruling-against-damietta-port-authority\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/13\/court-overturns-usd-494-mn-arbitration-ruling-against-damietta-port-authority\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Court overturns USD 494 mn arbitration ruling against Damietta Port Authority\",\"datePublished\":\"2021-07-13T04:00:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/13\/court-overturns-usd-494-mn-arbitration-ruling-against-damietta-port-authority\/\"},\"wordCount\":271,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/13\/court-overturns-usd-494-mn-arbitration-ruling-against-damietta-port-authority\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/183.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Damietta International Ports Company\",\"dispute watch\",\"EnterpriseAM\",\"judiciary\",\"Supreme Constitutional Court\",\"Youssef & Partners\"],\"articleSection\":[\"DISPUTE WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/13\/court-overturns-usd-494-mn-arbitration-ruling-against-damietta-port-authority\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/13\/court-overturns-usd-494-mn-arbitration-ruling-against-damietta-port-authority\/\",\"name\":\"Court overturns USD 494 mn arbitration ruling against Damietta Port Authority - 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The\u2026","rel":"","context":"In "DISPUTE WATCH"","block_context":{"text":"DISPUTE WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/dispute-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569540,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/27\/egypts-damietta-port-authority-slapped-usd-494-mn-fine-in-dipico-dispute\/","url_meta":{"origin":563689,"position":1},"title":"Egypt\u2019s Damietta Port Authority slapped USD 494 mn fine in DIPICO dispute","author":"enterpriseam admin","date":"27 February 2020","format":false,"excerpt":"DISPUTE WATCH- Damietta Port Authority slapped USD 494 mn fine in DIPCO dispute: The International Court of Arbitration (ICC) has ordered the Damietta Port Authority (DPA) to pay over USD 494 mn to the Damietta International Ports Company (DIPCO) in a five-year-old contract termination dispute, the Kuwait and Gulf Link\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543783,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/17\/damietta-port-authority-and-dipco-settle-long-running-container-terminal-dispute\/","url_meta":{"origin":563689,"position":2},"title":"Damietta Port Authority and DIPCO settle long-running container terminal dispute","author":"enterpriseam admin","date":"17 February 2022","format":false,"excerpt":"Damietta Port and DIPCO settle their years-long dispute: KGL International Ports, Warehousing & Transport and Damietta International Ports Company (DIPCO) have reached an agreement with the Damietta Port Authority (DPA) to settle all disputes between them, according to a statement (pdf) from KGL\u2019s transport subsidiary, which owns a 25% stake\u2026","rel":"","context":"In "DISPUTE WATCH"","block_context":{"text":"DISPUTE WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/dispute-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/248.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":634535,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/17\/icc-orders-damietta-ports-to-pay-doosan-usd-74-mn\/","url_meta":{"origin":563689,"position":3},"title":"ICC orders Damietta Ports to pay Doosan USD 74 mn","author":"enterpriseam admin","date":"17 January 2018","format":false,"excerpt":"Damietta Ports lasts USD 74 mn international arbitration case: The International Court of Arbitration has ordered the Damietta International Ports Company and Kuwait and Gulf Link Transport (KGL) to pay USD 74 mn in addition to interest and legal expenses to Doosan Heavy Industries. KGL is part of an international\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602024,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/17\/saudis-globe-eyes-damietta-port-as-egypt-entry-point\/","url_meta":{"origin":563689,"position":4},"title":"Saudi\u2019s Globe eyes Damietta Port as Egypt entry point","author":"enterpriseam admin","date":"17 March 2019","format":false,"excerpt":"Saudi logistics service provider Globe Group is eyeing Damietta Port as its entry point into Egypt, the Damietta Ports Authority (DPA) said in a statement following a meeting between a delegation of senior executives from Globe and the DPA. The delegation is particularly interested in usufruct rights to manage and\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":642855,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/23\/damietta-port-authority-receives-four-international-offers-for-new-container-terminal\/","url_meta":{"origin":563689,"position":5},"title":"Damietta Port Authority receives four international offers for new container terminal","author":"enterpriseam admin","date":"23 August 2017","format":false,"excerpt":"The Damietta Port Authority received four international offers for the development of a second container terminal at the Damietta Port, authority head Ayman Salah told Al Borsa on Tuesday. The bids came from France\u2019s CMA CGM, Germany\u2019s Hapag-Lloyd, United Arab Shipping Company, and China Harbor. The project was originally awarded\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=563689"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563689\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563683"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563690"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563689"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563689"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}