By Sami Zaptia.
London, 24 May 2021:
The Overseas Disputes Department of the Supreme Judicial Council announced yesterday that the Paris Court of Appeal nullified on 23 March 2021 the partial arbitration judgment issued on 15 February 2021 regarding the correct formation of the arbitration panel.
The arbitration panel was for a case filed by the UAE based DS Construction against the Libyan state and its public institutions obliging the company to pay the Libyan state an amount of 150,000 Euros for attorney’s fees and expenses.
DS Construction had claimed compensation for damage amounting to US$ 363 million [restrict paid=”true”] and the case continued initially despite Libya’s defence seeking the halting of procedures until this initial issue related to the validity of the formation of the arbitration committee is decided.
The ruling now halts proceedings and returns the two disputing parties to the point prior to the formation of the arbitration panel. [/restrict]