Shalakany is pleased to announce that it had secured for its client, a leading insurance company in Egypt, a favorable interim ruling from the Court of Cassation. Shalakany challenged a several hundreds of millions of US Dollars appeal court ruling against the client. The Court of Cassation accepted Shalakany’s request to stay the enforcement of the challenged appeal ruling. This is one of the rare incidents where the Court of Cassation accepts interim requests and Shalakany is pleased to have secured such a favorable interim ruling for its client. Shalakany continues to represent the client on the merits of the challenge and looks forward to reversing the challenged appeal ruling and to securing the client’s interests.

Mr. Mostafa Hassan, Senior Partner, said: “We are pleased to represent our client in this important case. This is a very important step for overturning the challenged ruling and securing the client’s interests.”

Mr. Muhammad Ussama, the Partner handling the case, said: “Securing favorable interim rulings is not common, this win sends a positive signal to investors and companies working in Egypt: The Egyptian Judiciary continues to evolve to meet the needs of our fast-growing market.”