March 23, 2022
Favorable Court of Appeal Ruling in Multi-Million-Dollar Insurance Dispute
After securing a positive outcome for a leading insurance company in Egypt in previous appeals and cassation proceedings for a dispute going back to 2018, Shalakany is pleased to announce that the Cairo Appeal Court has, once again, decided on the merits of the dispute and rejected the claim brought forward against Shalakany’s client in its entirety. This marks Shalakany’s fourth consecutive win for our client in relation to this insurance dispute which saw the Client’s exposure decrease from a multi-million USD exposure to about EGP 5 million and eventually to zero.
Muhammad Ussama, the Partner leading the disputes’ team working on the case, said: “We are delighted to have secured this positive outcome for our client who is now relieved that it can write this potential liability off its books and allocate the reserves for business expansion plans.”
Muhammad Ussama, the Partner leading the disputes’ team working on the case, said: “We are delighted to have secured this positive outcome for our client who is now relieved that it can write this potential liability off its books and allocate the reserves for business expansion plans.”
