Arbitral Digest

Matter

Abdul Kadir Al Muhaidib and Sons Company v Dr Moamena Kamel et al (BVIHC (COM) 2024/0213)

Seat
Egypt
Applicable rules
CRCICA Arbitration Rules
Substantive governing law
Egyptian law
  1. 20 October 2022Egypt

    20 October 2022Egypt

    CRCICA arbitral award dated 20 October 2022

    Cairo Regional Centre for International Commercial Arbitration

    Decision summary
    The tribunal asserted jurisdiction and held the defendants and the heirs of Mahmoud Abdel Meguid jointly and severally liable for breach of the Memorandum of Understanding. It rejected specific performance and lost-profit claims, but awarded approximately US$23 million for loss of opportunity and costs.

    Supporting details

    4 participants
    Abdul Kadir Al Muhaidib and Sons Company
    Dr Moamena Kamel
    Dr Hend El Sherbini
    Mahmoud Abdel Meguid
    Cairo Regional Centre for International Commercial Arbitration

    2 years, 6 months and 18 days later · 931 days

  2. 8 May 2025Egypt

    8 May 2025Egypt

    Judgment of the Egyptian Court of Cassation dated 8 May 2025

    Egyptian Court of Cassation

    Decision summary
    The Court of Cassation allowed the appeal and set aside the 20 October 2022 CRCICA award in its entirety, holding that compensation in foreign currency violated mandatory Egyptian foreign-exchange rules of public order.

    8 months and 18 days later · 263 days

  3. 26 January 2026British Virgin Islands

    26 January 2026British Virgin Islands

    Judgment of the High Court of Justice of the Virgin Islands, Commercial Division in claim BVIHC (COM) 2024/0213 dated 26 January 2026

    High Court of Justice of the Virgin Islands, Commercial Division

    Case no.
    BVIHC (COM) 2024/0213
    Decision summary
    The Court declined to recognise or enforce the CRCICA award dated 20 October 2022 because it had been finally set aside by the Egyptian Court of Cassation, and no exceptional circumstances justified disregarding that annulment. It recognised and gave effect to the Court of Cassation judgment, dismissed the claim, and discharged the interim orders including the worldwide freezing injunction.

    Supporting details

    45 authorities · 12 participants
    Abdul Kadir Al Muhaidib and Sons Company
    Representative
    Robert Nader (For: Abdul Kadir Al Muhaidib and Sons Company)
    Representative
    Gareth Timms (For: Abdul Kadir Al Muhaidib and Sons Company)
    Expert
    Hassan El-Badrawy (For: Abdul Kadir Al Muhaidib and Sons Company)
    Dr Moamena Kamel
    Representative
    George Spalton KC (For: Dr Moamena Kamel · Dr Hend El Sherbini)
    Representative
    Shane Donovan (For: Dr Moamena Kamel · Dr Hend El Sherbini)
    Representative
    Marija Emberson (For: Dr Moamena Kamel · Dr Hend El Sherbini)
    Dr Hend El Sherbini
    Representative
    George Spalton KC (For: Dr Moamena Kamel · Dr Hend El Sherbini)
    Representative
    Shane Donovan (For: Dr Moamena Kamel · Dr Hend El Sherbini)
    Representative
    Marija Emberson (For: Dr Moamena Kamel · Dr Hend El Sherbini)
    Hena Holdings Limited
    Representative
    Sara-Jane Knock (For: Hena Holdings Limited)
    High Court of Justice of the Virgin Islands, Commercial Division

    Authorities cited

    45
    • BVI Arbitration Act 2013
      statute
    • Eastern Caribbean Supreme Court Civil Procedure Rules (Revised Edition) 2023
      statute
    • Egyptian Arbitration Law No. 27 of 1994
      statute
    • Central Bank of Egypt and Banking Sector Law (Law No. 194 of 2020, art. 212)
      statute
    • Egyptian Constitution
      statute
    • Egypt-Saudi Arabia Bilateral Investment Treaty (Egypt-Saudi Arabia BIT, art. 17)
      statute
    • New York Convention (Convention on the Recognition and Enforcement of Foreign Arbitral Awards, art. V(1)(c))
      statute
    • Carl Zeiss Stiftung v Rayner and Keeler Ltd (No 2) ([1967] 1 A.C. 853)
      case-law
    • The Sennar ([1985] 1 W.L.R. 490, [1985] 2 All ER 104)
      case-law
    • Hunter v Chief Constable of West Midlands ([1982] AC 529)
      case-law
    • Johnson v Gore Wood & Co ([2002] 2 A.C. 1)
      case-law
    • Ashmore v British Coal Corp ([1990] 2 Q.B. 338)
      case-law
    • Re Queen’s Moat House Plc, Secretary of State for Trade and Industry v Bairstow ([2003] EWCA Civ 321, [2004] Ch 1)
      case-law
    • Iberian UK Ltd v BPB Industries Plc ([1996] 2 CMLR 601)
      case-law
    • Betws Anthracite Ltd v DSK Anthrazit Ibbenburen GmbH ([2003] EWHC 2403 (Comm))
      case-law
    • Inntrepreneur Pub Company (CPC) v Crehan ([2006] UKHL 38)
      case-law
    • Enron Coal Services Ltd (in liq) v English Welsh & Scottish Railway Ltd ([2011] EWCA Civ 2)
      case-law
    • Ryanair Holdings plc v Office of Fair Trading (Case No 1174/4/1/11, [2011] CAT 23)
      case-law
    • 2 Travel Group plc (in liq) v Cardiff City Transport Services Ltd (Case No 1178/5/7/11, [2012] CAT 19)
      case-law
    • Kamoka v Security Service ([2017] EWCA Civ 1665)
      case-law
    • Micula v Romania (European Commission intervening) ([2018] EWCA Civ 1801)
      case-law
    • Re Barings plc (No 3), Secretary of State for Trade and Industry v Baker (No 3) ([1999] 1 BCLC 226, affirmed [1999] 1 W.L.R. 1985)
      case-law
    • Adams v Cape Industries Plc ([1990] Ch. 433)
      case-law
    • Malicorp Ltd v Government of the Arab Republic of Egypt ([2015] EWHC 315 (Comm))
      case-law
    • Altimo Holdings and Investment Ltd v Kyrgz Mobil Tel Ltd ([2011] UKPC 7)
      case-law
    • Yukos Capital S.a.r.L v OJS Oil Company Rosneft (No 2) ([2012] EWCA Civ 855)
      case-law
    • Cukurova Holdings AS v Sonera Holding BV ([2014] UKPC 15)
      case-law
    • Pemberton v Hughes ([1899] 1 Ch. 781)
      case-law
    • Jacobson v Frachon ((1927) 138 L.T. 386)
      case-law
    • Maximov v Open Joint Stock Company Novolipetsky Metallurgichesky Kombinat ([2017] EWHC 1911 (Comm))
      case-law
    • R v Bow Street Metropolitan Stipendiary Magistrate, Ex p. Pinochet Ugarte (No. 2) ([1999] 2 W.L.R. 272)
      case-law
    • Porter v Magill ([2001] UKHL 67)
      case-law
    • Halliburton Co v Chubb Bermuda Insurance Ltd ([2020] UKSC 48, [2020] 3 W.L.R. 1474)
      case-law
    • Locabail (UK) Ltd v Bayfield Properties Ltd ([2000] Q.B. 451)
      case-law
    • Ansar v Lloyds TSB Bank Plc ([2006] EWCA Civ 1462)
      case-law
    • Otkritie International Investment Management Ltd v Urumov ([2014] EWCA Civ 1315)
      case-law
    • Re A (a child) (Family Proceedings: Disclosure of Information) ([2012] UKSC 60, [2013] 2 A.C. 66)
      case-law
    • R (Sivasubramaniam) v Wandsworth County Court ([2002] EWCA Civ 1738)
      case-law
    • Kenworth Industrial Limited v Xin Gang Power Investments Limited (BVIHCM 2023/006, 1 February 2024)
      case-law
    • Sian Participation Corp (in liquidation) v Halimeda International Limited ([2024] UKPC 14)
      case-law
    • Ottway v Jones ([1955] 1 W.L.R. 706)
      case-law
    • Weymont v Place ([2015] EWCA Civ 289)
      case-law
    • English v Emery Reimbold & Strick Ltd ([2002] EWCA Civ 605, [2002] 1 W.L.R. 2409)
      case-law
    • Dicey, Morris and Collins on the Conflict of Laws (16th Edition, 2022)
      academic
    • Halsbury’s Laws of England, Volume 19 (5th Edition, Reissue, Volume 19, 2024)
      academic

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Abdul Kadir Al Muhaidib and Sons Company v Dr Moamena Kamel et al (BVIHC (COM) 2024/0213) · Matter