Egypt Must Arbitrate $200M Red Sea Resort Row, Tribunal Says

Law360, New York (June 6, 2012, 7:43 PM EDT) -- A tribunal of the International Center for Settlement of Investment Disputes on Tuesday ruled that the government of Egypt is subject to arbitration in a more than $200 million dispute with California real estate company H&H Enterprises Investments Inc. over a stalled resort on the Red Sea.

State-owned development company Grand Hotels of Egypt asserted that it was exempt from arbitration initiated by H&H Enterprises because the parties' Management and Operation Contract and associated Option to Buy are considered purchase contracts — not investments — under...
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