The English company Malecorp is preparing to file an international arbitration case against the Egyptian government represented by the Ministry of Civil Aviation; To claim an amount of $ 100 million, in addition to late interest since 2004, as compensation for the losses it incurred as a result of the termination of the contract with it to establish and manage Ras Sidr Airport.
The details of the case go back to the Ministry of Transport launching in 2000 a global tender for a project for the construction, management, maintenance and restoration of Ras Sidr Airport with a BOT system, and the English Malicorp was contracted, but at a later stage The operation was rejected due to security considerations, and the rest of the procedures were stopped, knowing that the project was later transferred to the Ministry of Civil Aviation.
Sources close to the file said that Malecorp has commissioned a local legal office to file a new arbitration suit against the government and the Ministry of Aviation with the Cairo Regional Center for International Commercial Arbitration (CRCICA) as an affiliated center To the United Nations, and all documents confirming the company's position in the case will be presented
She added, in exclusive statements to Al-Mal, that Malecorp had previously obtained international rulings with compensation of nearly $ 20 million, but the Egyptian Court of Cassation ruled that these judgments were incorrect, for the case to intervene In a series of bilateral negotiations and moves, in which French courts interfered, and indeed Egyptian funds were seized in France years ago.
On June 19, 2008, a French court issued a ruling nullifying the order issued by the French Execution Court affirming a ruling in favor of Malcorp, and that it was not permissible to implement it in France while obliging Malecorp to pay the Egyptian government One hundred thousand euros for her misuse of the right to litigation, rejecting any other requests for her, and forcing her to pay attorneys' fees. The Paris Court of Appeal also upheld this ruling, as well as the French Court of Cassation.
and the sources indicated that Malicorp obtained the project through a public tender, and entered into alliances with Norwegian and international companies specialized in this field, but was surprised by the disruption of the procedures for establishing companies in Egypt, and the issuance of a lack of security approval that led to the withdrawal of the project.
and press reports issued during the crisis made it clear that the Egyptian government relied on its defense before the International Commercial Arbitration Board, provided that Malecorp provided incorrect information about its financial position in the show. Which I got on the airport project.
