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Libya avoids paying about 350 million Egyptian pounds

The Overseas Disputes Department of Libya’s Supreme Judicial Council announced yesterday that the Paris Court of Appeal nullified on 23 March 2021 the partial arbitration judgment issued on 15 February 2021 regarding the correct formation of the arbitration panel.

The arbitration panel was for a case filed by the UAE based DS Construction against the Libyan state and its public institutions obliging the company to pay the Libyan state an amount of 150,000 Euros for attorney’s fees and expenses.

The Overseas Disputes Department also announced that on 23 March 2021 the South Cairo Court of First Instance acquitted the Libyan state from paying the judicial fees estimated at 350 million Egyptian pounds as a result of a judgment issued in favour of the Hanna family.

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