Luxembourg Co. Looks To Revive $4B Claim Against Algeria

By Caroline Simson (October 5, 2017, 6:51 PM EDT) -- A Luxembourg entity controlled by Egyptian billionaire Naguib Sawiris is looking to revive its $4 billion claim against Algeria over an allegedly unlawful campaign of harassment against an Algerian telecommunications company, which was tossed after an international tribunal determined it was inadmissible.

The International Centre for the Settlement of Investment Disputes said that Orascom TMT Investments SARL of Luxembourg had submitted its application for partial annulment of the May 31 award favoring Algeria on Oct. 2. The application itself was not publicly available on Thursday.

In addition to concluding that it was precluded from exercising jurisdiction over the dispute due to a...

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