Featured in GAR: An Arab arbitration spring.
As the Arab Spring comes to a close and the region continues to move on from Mubarak-era government policies, arbitration is on the rise in the Arab world. At the IFCAI Conference held in Manama, Karim A Youssef along with other delegates discussed the upsurge of arbitration cases occurring in Egypt and the rest of the Arab world because of the upheaval. Youssef highlighted a “hotspot” of arbitration claims in Egypt that are escalating as a natural result of the regime change.
It has been noted that the number of ICSID cases filed against the Egyptian government has skyrocketed since the Spring, more than the collective years prior. Youssef drew attention to the unique types of cases being filed, ranging from foreign investors becoming embroiled in criminal investigations of Mubarak-era ministers, to nullification of contracts prior to the upheaval. These disputes serve as a testament to the changes brought about by the Arab Spring and present a new challenge for the arbitration community.