{"id":574529,"date":"2020-09-13T04:19:37","date_gmt":"2020-09-13T04:19:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/13\/porto-amer-group-determine-their-shares-of-usd-51-68-mn-compensation-payment-from-syrias-antaradous\/"},"modified":"2020-09-13T04:19:37","modified_gmt":"2020-09-13T04:19:37","slug":"porto-amer-group-determine-their-shares-of-usd-51-68-mn-compensation-payment-from-syrias-antaradous","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/13\/porto-amer-group-determine-their-shares-of-usd-51-68-mn-compensation-payment-from-syrias-antaradous\/","title":{"rendered":"Porto, Amer Group determine their shares of USD 51.68 mn compensation payment from Syria\u2019s Antaradous"},"content":{"rendered":"

Syrian tourism company Antaradous will pay out USD 36.6 mn in compensation to Porto Group and USD 15.1 mn to Amer Group as a final settlement for the six-year dispute between the firms, Amer financial advisors FACT Financial has calculated in a report (pdf)<\/a>. The two companies \u2014 which were originally one entity before demerging in 2015 \u2014 were awarded the compensation in February 2019, when the Cairo Regional Center for International Commercial Arbitration (CRCICA) issued a ruling<\/a> on a dispute dating back to 2008 over a partnership to develop a Porto-style project in the coastal city of Tartous. CRCICA had originally fined Antaradous USD 39.9 mn, and this amount has now appreciated to USD 51.68 mn thanks to accrued interest since 2014.<\/p>\n","protected":false},"excerpt":{"rendered":"

Syrian tourism company Antaradous will pay out USD 36.6 mn in compensation to Porto Group and USD 15.1 mn to Amer Group as a final settlement for the six-year dispute between the firms, Amer financial advisors FACT Financial has calculated in a report (pdf). The two companies \u2014 which were originally one entity before demerging […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[9315],"tags":[832,72,411,2390,669],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574529","post","type-post","status-publish","format-standard","hentry","category-other-business-news-of-note","tag-amer-group","tag-enterpriseam","tag-judiciary","tag-other-business-news-of-note","tag-porto-group","wpautop","entry"],"acf":{"mongo_id":"f33a4de8-4bdb-44d8-b127-1ee3988c880d","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[574501],"teaser":"","voice_url":""},"yoast_head":"\nPorto, Amer Group determine their shares of USD 51.68 mn compensation payment from Syria\u2019s Antaradous - 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\/2020\/09\/13\/porto-amer-group-determine-their-shares-of-usd-51-68-mn-compensation-payment-from-syrias-antaradous\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Porto, Amer Group determine their shares of USD 51.68 mn compensation payment from Syria\u2019s Antaradous\" \/>\n<meta property=\"og:description\" content=\"Syrian tourism company Antaradous will pay out USD 36.6 mn in compensation to Porto Group and USD 15.1 mn to Amer Group as a final settlement for the six-year dispute between the firms, Amer financial advisors FACT Financial has calculated in a report (pdf). The two companies \u2014 which were originally one entity before demerging […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/13\/porto-amer-group-determine-their-shares-of-usd-51-68-mn-compensation-payment-from-syrias-antaradous\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-13T04:19:37+00:00\" \/>\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\/2020\/09\/13\/porto-amer-group-determine-their-shares-of-usd-51-68-mn-compensation-payment-from-syrias-antaradous\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/13\/porto-amer-group-determine-their-shares-of-usd-51-68-mn-compensation-payment-from-syrias-antaradous\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Porto, Amer Group determine their shares of USD 51.68 mn compensation payment from Syria\u2019s Antaradous\",\"datePublished\":\"2020-09-13T04:19:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/13\/porto-amer-group-determine-their-shares-of-usd-51-68-mn-compensation-payment-from-syrias-antaradous\/\"},\"wordCount\":128,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Amer Group\",\"EnterpriseAM\",\"judiciary\",\"Other Business News of Note\",\"Porto Group\"],\"articleSection\":[\"Other Business News of Note\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/13\/porto-amer-group-determine-their-shares-of-usd-51-68-mn-compensation-payment-from-syrias-antaradous\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/13\/porto-amer-group-determine-their-shares-of-usd-51-68-mn-compensation-payment-from-syrias-antaradous\/\",\"name\":\"Porto, Amer Group determine their shares of USD 51.68 mn compensation payment from Syria\u2019s Antaradous - 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The claims were brought to commercial arbitration by the Syria-based company in 2014 following a dispute over its\u2026","rel":"","context":"In "Law"","block_context":{"text":"Law","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/law\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572541,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/29\/egypt-court-rules-in-favor-amer-group-porto-group-in-antaradous-dispute\/","url_meta":{"origin":574529,"position":2},"title":"Egypt court rules in favor Amer Group, Porto Group in Antaradous dispute","author":"enterpriseam admin","date":"29 June 2020","format":false,"excerpt":"DISPUTE WATCH- Court rules in favor Amer Group, Porto Group in Antaradous dispute: The North Cairo Court has turned down claim for compensation lodged by Syria\u2019s Antaradous for Touristic Development against Mansour Amer and his two holding companies, Amer Group and Porto Group, the defendants said (pdf). Arbitrators had originally\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":601178,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/syrias-antaradous-brings-dispute-with-egypts-amer-group-to-litigation\/","url_meta":{"origin":574529,"position":3},"title":"Syria\u2019s Antaradous brings dispute with Egypt\u2019s Amer Group to litigation","author":"enterpriseam admin","date":"20 February 2019","format":false,"excerpt":"Antaradous for Touristic Development has brought an arbitration case against Amer Group to litigators, Amer Group said in an EGX disclosure (pdf). The dispute dates back to 2008 when the parties entered into a partnership to develop a Porto-style project in the coastal city of Tartous. Amid project delays, the\u2026","rel":"","context":"In "Law"","block_context":{"text":"Law","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/law\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":652764,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/18\/porto-amer-to-build-egp-340-mn-santorini-compound\/","url_meta":{"origin":574529,"position":4},"title":"Porto, Amer to build EGP 340 mn Santorini compound","author":"enterpriseam admin","date":"18 January 2017","format":false,"excerpt":"Sister companies Amer Group and Porto Group signed a EGP 340 mn agreement to build 500 homes for the Santorini compound in Ain Al Sokhna, Al Borsa reported.","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575524,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/18\/amer-subsidiary-borrows-egp-450-mn-from-ahli-united-bank-for-porto-heliopolis-project\/","url_meta":{"origin":574529,"position":5},"title":"Amer subsidiary borrows EGP 450 mn from Ahli United Bank for Porto Heliopolis project","author":"enterpriseam admin","date":"18 October 2020","format":false,"excerpt":"Amer Group subsidiary Delmar For Touristic Development signed a loan contract with Ahli United Bank for EGP 450 mn on Wednesday to finance the Porto Heliopolis project, the company said in an EGX filing (pdf). 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