{"id":630733,"date":"2018-04-30T04:15:34","date_gmt":"2018-04-30T04:15:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/30\/oci-sues-golden-pyramids-plaza-and-aaib-in-bankruptcy-court\/"},"modified":"2018-04-30T04:15:34","modified_gmt":"2018-04-30T04:15:34","slug":"oci-sues-golden-pyramids-plaza-and-aaib-in-bankruptcy-court","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/30\/oci-sues-golden-pyramids-plaza-and-aaib-in-bankruptcy-court\/","title":{"rendered":"OCI sues Golden Pyramids Plaza and AAIB in bankruptcy court"},"content":{"rendered":"<p>Orascom Construction Industries (OCI) has kicked up a notch its ongoing legal battle with Golden Pyramids Plaza, suing the company and the Arab African International Bank (AAIB) in an Economic Court. AAIB appears to have been roped into the wrangling since it apparently acted as financial guarantor for Golden Pyramids. OCI and Consolidated Contractors International c. EGP 305 mn in damages awarded by 2015 arbitration ruling. According to the <a href=\"http:\/\/www.egx.com.eg\/downloads\/Bulletins\/215996_1.pdf\">bourse filing issued by Golden Pyramids (pdf)<\/a>, the latest court battle will take place in bankruptcy court, which will hold its first hearing on the matter today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Orascom Construction Industries (OCI) has kicked up a notch its ongoing legal battle with Golden Pyramids Plaza, suing the company and the Arab African International Bank (AAIB) in an Economic Court. AAIB appears to have been roped into the wrangling since it apparently acted as financial guarantor for Golden Pyramids. OCI and Consolidated Contractors International [&hellip;]<\/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":[9304],"tags":[72,2402],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630733","post","type-post","status-publish","format-standard","hentry","category-real-estate-housing","tag-enterpriseam","tag-real-estate-housing","wpautop","entry"],"acf":{"mongo_id":"7016d9e1-e05b-43fd-a7b2-29ba6e7cff5b","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","full_issue_title":"OCI sues Golden Pyramids Plaza and AAIB in bankruptcy court","related_issue":[630697],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.04d8cdad-f9c7-4282-b917-539117467e32.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>OCI sues Golden Pyramids Plaza and AAIB in bankruptcy court - 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\/2018\/04\/30\/oci-sues-golden-pyramids-plaza-and-aaib-in-bankruptcy-court\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OCI sues Golden Pyramids Plaza and AAIB in bankruptcy court\" \/>\n<meta property=\"og:description\" content=\"Orascom Construction Industries (OCI) has kicked up a notch its ongoing legal battle with Golden Pyramids Plaza, suing the company and the Arab African International Bank (AAIB) in an Economic Court. AAIB appears to have been roped into the wrangling since it apparently acted as financial guarantor for Golden Pyramids. OCI and Consolidated Contractors International [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/30\/oci-sues-golden-pyramids-plaza-and-aaib-in-bankruptcy-court\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-30T04:15:34+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<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/30\/oci-sues-golden-pyramids-plaza-and-aaib-in-bankruptcy-court\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/30\/oci-sues-golden-pyramids-plaza-and-aaib-in-bankruptcy-court\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"OCI sues Golden Pyramids Plaza and AAIB in bankruptcy court\",\"datePublished\":\"2018-04-30T04:15:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/30\/oci-sues-golden-pyramids-plaza-and-aaib-in-bankruptcy-court\/\"},\"wordCount\":104,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"Real Estate + Housing\"],\"articleSection\":[\"Real Estate + Housing\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/30\/oci-sues-golden-pyramids-plaza-and-aaib-in-bankruptcy-court\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/30\/oci-sues-golden-pyramids-plaza-and-aaib-in-bankruptcy-court\/\",\"name\":\"OCI sues Golden Pyramids Plaza and AAIB in bankruptcy court - 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EGP 305 mn in damages awarded by 2015 arbitration ruling. Reports suggest that FRA is considering the decision. An Appellate\u2026","rel":"","context":"In &quot;Real Estate + Housing&quot;","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":645833,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/31\/golden-pyramids-says-asset-sequestration-by-oci-unlawful\/","url_meta":{"origin":630733,"position":3},"title":"Golden Pyramids says asset sequestration by OCI unlawful","author":"enterpriseam admin","date":"31 July 2017","format":false,"excerpt":"Golden Pyramids Plaza says Orascom Construction Industries (OCI) and Consolidated Contractors International began sequestering some of its assets \u201cwithout any legal basis,\u201d 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\u2026","rel":"","context":"In &quot;Real Estate + Housing&quot;","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":630048,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/golden-pyramids-plaza-to-issue-usd-60-mn-in-corporate-bonds\/","url_meta":{"origin":630733,"position":4},"title":"Golden Pyramids Plaza to issue USD 60 mn in corporate bonds","author":"enterpriseam admin","date":"10 April 2018","format":false,"excerpt":"Golden Pyramids Plaza\u2019s board has agreed to issue a second tranche of USD 60 mn under a USD 400 mn bond program, according to a company statement. This comes only days after Orascom Construction Industries (OCI) reportedly requested that the Financial Regulatory Authority (FRA) stop Golden Pyramids Plaza from selling\u2026","rel":"","context":"In &quot;Real Estate + Housing&quot;","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":591951,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/22\/aaib-looks-for-partners-in-egp-2-1-bn-syndicated-loan-for-mnhd\/","url_meta":{"origin":630733,"position":5},"title":"AAIB looks for partners in EGP 2.1 bn syndicated loan for MNHD","author":"enterpriseam admin","date":"22 December 2019","format":false,"excerpt":"The Arab African International Bank (AAIB) has approached several local banks to contribute to a EGP 2.1 bn loan it is arranging for Madinet Nasr for Housing and Development, according to Al Shorouk. The company will use to loan to pay the development cost of its Sarai 1 and 2\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630733","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=630733"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630733\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630697"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=630733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=630733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=630733"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=630733"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=630733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}