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Settlement for FLSmidth Operation & Maintenance in an ICC Arbitration Proceeding

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Represented FLSmidth Operation & Maintenance in an ICC arbitration proceeding in Geneva, Switzerland, against the National Cement Company and the Holding Company for Chemical Industries. We have carried out negotiations with the respondents and the concerned authorities in Egypt, which has led to a successful settlement of a total claim exceeding EGP 700 million. The settlement was the result of extensive meetings and negotiations with the respondents, the Egyptian Minister of Public Enterprise and the Department of Arbitration and International Disputes of the Ministry of Justice. The settlement was also examined and endorsed by the competent committees at the Egyptian Cabinet of Ministers.

Source: Al Mal News

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