Matouk Bassiouny secures a remarkable win for a global market leader in the oil and gas industry

FOR IMMEDIATE RELEASE

Cairo, Egypt | 24 December 2023

MBH secures a remarkable win for a global market leader in the oil and gas industry We are pleased to announce that Matouk Bassiouny and Hennawy (“MBH”) Arbitration Group has achieved remarkable success by securing a favorable settlement for a global market leader in the oil and gas industry, operating worldwide in all oil and gas industry-related activities and drilling of wells.

The dispute arose from a contractual agreement for drilling wells for a major processing plant. The arbitration proceedings commenced in late 2022 by our client at the Cairo Regional Center for International Commercial Arbitration. Our client’s claims included claims for unpaid dues and compensation.

Under the settlement, our client received 100% of its dues amounting to more than EGP 80 million. In addition, our client was reimbursed for the incurred arbitration fees. This remarkable success was achieved through our strategy to enable our clients to receive their dues in the shortest time possible and through the most cost-effective route.

The team that secured this remarkable win consisted of Dr. Amr Abbas (Partner and Head of Arbitration), Mohamed Sallam (Counsel), Mohamed Samy (Senior Associate), and Maha Zain (Associate).

Dr. Amr A. Abbas, Partner and Head of Arbitration, commented: “I am glad that we have assisted our client in obtaining its rights. This victory is a witness of our commitment to present the highest level of legal advice to our clients, always based on a holistic strategy that takes into consideration the business specifics of each case to achieve the interests of our clients.”