March 31, 2021
Another Multi-Million-Dollar Insurance Dispute Win
Shalakany is pleased to announce that it has, yet again, secured a favorable ruling for its client, a leading insurance company in Egypt, before the Court of Cassation. This marks the third consecutive win for Shalakany in this particular dispute. The Firm had taken this case on in 2018 with the client being ordered by the First Instance Court to pay hundreds of millions of US Dollars in damages. We managed to overturn this ruling at the appeal level and with close the matter with this cassation ruling.
Mr. Mostafa Hassan, Senior Partner, said: “We are very pleased of this outcome. This win confirms the Firm’s long-standing expertise in handling complex insurance disputes and delivering positive results.”
Mr. Muhammad Ussama, the Partner handling the case, said: “This win is not only good for our client, but for the Egyptian economy at large. With the cassation ruling, our client is relieved that it can write this huge potential liability off its books and to allocate these reserves to actual business expansion.”
Mr. Mostafa Hassan, Senior Partner, said: “We are very pleased of this outcome. This win confirms the Firm’s long-standing expertise in handling complex insurance disputes and delivering positive results.”
Mr. Muhammad Ussama, the Partner handling the case, said: “This win is not only good for our client, but for the Egyptian economy at large. With the cassation ruling, our client is relieved that it can write this huge potential liability off its books and to allocate these reserves to actual business expansion.”
