{"id":596539,"date":"2019-07-01T04:29:50","date_gmt":"2019-07-01T04:29:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/01\/amer-group-porto-group-begin-procedures-to-receive-usd-39-9-mn-compensation-from-antaradous\/"},"modified":"2019-07-01T04:29:50","modified_gmt":"2019-07-01T04:29:50","slug":"amer-group-porto-group-begin-procedures-to-receive-usd-39-9-mn-compensation-from-antaradous","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/01\/amer-group-porto-group-begin-procedures-to-receive-usd-39-9-mn-compensation-from-antaradous\/","title":{"rendered":"Amer Group, Porto Group begin procedures to receive USD 39.9 mn compensation from Antaradous"},"content":{"rendered":"

DISPUTE WATCH- Amer Group, Porto Group begin procedures to receive USD 39.9 mn compensation:<\/b> Amer Group and Porto Group have hired Zulficar & Partners law firm to begin procedures to collect the USD 39.9 mn compensation from Antaradous for Touristic Development in Syria granted to them in an arbitration ruling<\/a> in February, both companies said in bourse filings (here (pdf)<\/a> and here (pdf)<\/a>). The claims were brought to commercial arbitration by the Syria-based company in 2014 following a dispute over its partnership with Amer to develop the Porto Tartous tourist resort. Antaradous then brought the dispute to litigation<\/a> at the Cairo Regional Center for International Commercial Arbitration in February, only to see the arbitrator rule in Amer\u2019s favor.<\/p>\n","protected":false},"excerpt":{"rendered":"

DISPUTE WATCH- Amer Group, Porto Group begin procedures to receive USD 39.9 mn compensation: Amer Group and Porto Group have hired Zulficar & Partners law firm to begin procedures to collect the USD 39.9 mn compensation from Antaradous for Touristic Development in Syria granted to them in an arbitration ruling in February, both companies said […]<\/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":[8572],"tags":[832,5401,957,72,669,2380,433],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596539","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-amer-group","tag-antaradous-for-touristic-development","tag-dispute-watch","tag-enterpriseam","tag-porto-group","tag-speed-round","tag-syria","wpautop","entry"],"acf":{"mongo_id":"30ce1842-8eb5-403f-8fdd-883861f7141d","is_powered_by":true,"section_story_id":"c76e4ce2-8ba4-4d4b-b668-c90d87234437","story_type":"1","photo_url":"","photo_position":"above","related_issue":[596521],"teaser":"","voice_url":""},"yoast_head":"\nAmer Group, Porto Group begin procedures to receive USD 39.9 mn compensation from 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":601178,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/syrias-antaradous-brings-dispute-with-egypts-amer-group-to-litigation\/","url_meta":{"origin":596539,"position":1},"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":574529,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/13\/porto-amer-group-determine-their-shares-of-usd-51-68-mn-compensation-payment-from-syrias-antaradous\/","url_meta":{"origin":596539,"position":2},"title":"Porto, Amer Group determine their shares of USD 51.68 mn compensation payment from Syria\u2019s Antaradous","author":"enterpriseam admin","date":"13 September 2020","format":false,"excerpt":"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\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"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":596539,"position":3},"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":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":596539,"position":4},"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). The project is the first integrated residential compound in the Heliopolis area, and is situated\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647584,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/15\/earnings-watch-gb-auto-mnhd-oriental-weavers-amer-group-porto-group\/","url_meta":{"origin":596539,"position":5},"title":"Earnings Watch: GB Auto, MNHD, Oriental Weavers, Amer Group, Porto Group","author":"enterpriseam admin","date":"15 May 2017","format":false,"excerpt":"EARNINGS WATCH- GB Auto swung to a net loss of EGP 154.5 mn on revenues of EGP 2.96 bn in 1Q17 compared a net profit of EGP 28.6 mn a year ago. 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