We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) Litigation Team has successfully secured a favorable settlement for Misr Beni Suef Cement Co. after prolonged disputes before the Egyptian courts.

The dispute pertains to an arbitral award issued by CRCICA in 2022 against our client in a case handled by another law firm with an excess amount of EGP 455 million, including interests accrued until the settlement date.

Our client secured an amount exceeding EGP 195 million from the arbitral award by virtue of this settlement. Furthermore, our client received a spare parts inventory from the opposing party along with the latter’s waiver of the entire arbitral award and putting an end to all the pending disputes.

The team that handled this matter was led by Dr. Mohamed Shehata (Partner & Head of Litigation and TMT), Reda Morsy (Legal Director), Eslam Abdeldayem (Senior Associate), Ali Megahed (Senior Associate) and Ahmed Adel (Associate).

Tamer El Hennawy, Partner and Co-Head of Capital Markets and Corporate and M&A, contributed to the success of the settlement and was present at the signing ceremony.

Partner and Head of Litigation and TMT, Dr. Mohamed Shehata, commented: “This exceptional outcome reflects our commitment to providing the highest level of legal support to our clients and is a testament to our remarkable expertise in handling complex courts proceedings related to the annulment and enforcement of arbitral awards.”