Featured in GAR: An Arab Arbitration Spring.
Karim A. Youssef, CEO of Youssef & Partners (Youssef + Partners), was featured in GAR with an analysis of arbitration in the Arab Spring. In the wake of the Arab Spring, countries across the Arab world have seen a significant upsurge in arbitration proceedings.
At the IFCAI Conference in Manama, Youssef discussed the implications of this development. He noted that Egypt had become a “hotspot” for claims because of regime change, emphasizing that the cases seen so far were only “the tip of the iceberg.” Youssef, who is also a member of Egyptian government commission on arbitration, assessed how the government has responded to the uptick in claims, pointing to a recent change to the country’s investment law passed by presidential decree in 2014, and its effect on the third-party challenges to government contracts.
“The swathe of freshly brought arbitrations has the potential to create a ‘new golden age’ of Arab arbitration”, Youssef told delegates at the conference.
It is sure to be an insightful view of the current arbitration climate in the Arab world. With all of this in mind, Youssef predicted there would be considerable “hype” around some of the awards that emerge from these cases.