Youssef & Partners secured the dismissal of claims estimated at $275 million in ICC arbitration proceedings seated in Geneva, in addition to a partial award on costs.
Youssef & Partners (Youssef + Partners) proudly announces that its international arbitration team has achieved a major victory for a high-net-worth individual (HNWI) client and his family in a major International Chamber of Commerce (ICC) claim. The claims were estimated at USD 250,000,000.
The award was rendered in June 2022 with the Tribunal ruling under Egyptian and Swiss law that it lacked jurisdiction to entertain the claims, granting an award on cost. The claims covered in the ICC proceedings included a plethora of intricate issues, such as non-signatory matters and a complex factual matrix pertaining to the sale of shares.