Lebanon Dodges $33M Claim Over 2-Year Highway Job Delay

Law360, New York (June 12, 2012, 7:27 PM EDT) -- An international arbitration panel on Thursday rejected an Italian construction company's claims that Lebanon was responsible for two years' worth of delays on a segment of a massive highway project and should pay $33 million in damages as compensation.

The International Center for Settlement of Investment Disputes denied an assertion by Toto Costruzioni Generali SpA that Lebanon violated a treaty with Italy when it failed to immediately remove the Syrian Army from land where Toto was to construct a 3.5-mile segment of a highway intended to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.