Arbitral Digest

Matter

Middle East Cement Shipping and Handling Co. S.A. v. Arab Republic of Egypt (ICSID Case No. ARB/99/6)

Case no.
ARB/99/6
Applicable rules
ICSID Arbitration Rules
  1. 28 November 2000Arbitration

    28 November 2000Arbitration

    Procedural Order Regarding the Procedure to Be Followed on the Merits dated 28 November 2000

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal issued the procedural timetable for the merits and invited the Parties to comment; no comments were received by 8 December 2000, so the timetable remained in place.

    Supporting details

    International Centre for Settlement of Investment Disputes

    1 year, 2 months and 17 days later · 443 days

  2. 14 February 2002Arbitration

    14 February 2002Arbitration

    Order Declaring the Proceeding Closed dated 14 February 2002

    International Centre for Settlement of Investment Disputes

    Decision summary
    After sufficient advance deposit payments were received to cover the expected arbitration costs, the Tribunal declared the proceeding closed under ICSID Arbitration Rule 38(1).

    Supporting details

    International Centre for Settlement of Investment Disputes

    1 month and 29 days later · 57 days

  3. 12 April 2002Arbitration

    12 April 2002Arbitration

    Award in the Arbitration ARB/99/6 dated 12 April 2002

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal found that Egypt breached the 1993 Agreement for the Promotion and Reciprocal Protection of Investments between Greece and Egypt by taking measures tantamount to expropriation without prompt, adequate and effective compensation. It ordered Egypt to pay US$2,190,430.00, an additional US$1,558,970.00 in compound interest through the payment due date, and 6% annual compound interest thereafter until payment; ICSID and Tribunal costs were allocated equally between the Parties.

    Supporting details

    10 authorities · 12 participants
    Middle East Cement Shipping and Handling Co. S.A.
    Representative
    Nicolaos Georgilis (For: Middle East Cement Shipping and Handling Co. S.A.)
    Representative
    Sarwat A. Shahid (For: Middle East Cement Shipping and Handling Co. S.A.)
    Representative
    Ashraf Yehia (For: Middle East Cement Shipping and Handling Co. S.A.)
    Arab Republic of Egypt
    Representative
    Ibrahim M. Refaat (For: Arab Republic of Egypt)
    Representative
    Hussein M. Fathi (For: Arab Republic of Egypt)
    Representative
    Osama A. Mahmoud (For: Arab Republic of Egypt)
    Representative
    Aktham El Kholy (For: Arab Republic of Egypt)
    International Centre for Settlement of Investment Disputes

    Authorities cited

    10
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention)
      treaty
    • Agreement for the Promotion and Reciprocal Protection of Investments between Greece and Egypt (1993 Agreement for the Promotion and Reciprocal Protection of Investments between Greece and Egypt)
      treaty
    • Egyptian Investment Law No. 43 of 1974, as amended by Law No. 32 of 1977
      statute
    • Egyptian Ministerial Decree No. 375 of 1977 on Executive Regulations for Arab and Foreign Investment (Ministerial Decree No. 375 of 1977)
      statute
    • Egyptian Law No. 308 of 1955 Concerning Administrative Distraint (Law No. 308 of 1955)
      statute
    • Egyptian Civil Code (Article 221 of the Egyptian Civil Code)
      statute
    • Asian Agricultural Products Ltd. v. Republic of Sri Lanka (ICSID Case No. ARB/87/3)
      case law
    • Wena Hotels Ltd. v. Arab Republic of Egypt (ICSID Case No. ARB/98/4)
      case law
    • Metalclad Corporation v. United Mexican States (ICSID Case No. ARB(AF)/97/1)
      case law
    • Compañia del Desarrollo de Santa Elena S.A. v. Republic of Costa Rica (ICSID Case No. ARB/96/1)
      case law
  4. Date not availableArbitration

    Date not availableArbitration

    Decision on Jurisdiction in Arbitration ARB/99/6

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal decided that it had jurisdiction over the dispute on the basis of the 1993 Bilateral Investment Treaty between Egypt and Greece and that a procedural order would govern the further procedure.

    Supporting details

    International Centre for Settlement of Investment Disputes

Matter record

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Middle East Cement Shipping and Handling Co. S.A. v. Arab Republic of Egypt (ICSID Case No. ARB/99/6) · Matter