A dispute between Al Habtoor Group and Lebanon is now moving forward to the process of international arbitration. Several attempts were made to resolve the matter through discussions. Since it did not work out for the parties, the group has hired a law firm White & Case to represent it. The proceedings would be initiated in Washington, DC under the Bilateral Investment Treaty(BIT) between United Arab Emirates(UAE) and Lebanon. Such treaties generally involve a waiting period before the process of arbitration begins, to give some time to the parties to negotiate upon a solution.
The Al Habtoor Group mentioned that it always remained open to a discussion during this waiting period, but there was no meaningful agreement or engagement. Left with no other choice, a formal legal action was preferred. The investments were made in Lebanon by the company, relying on the host country’s international investment commitments towards the foreign investors.
It was alleged that there were certain circumstances which caused significant financial losses to the company’s investments and that now the protection available under the investment agreement should be invoked.
The process of the arbitration filing is now at an advanced stage. The proceedings will be relied on the mechanism as to dispute resolution mentioned in the BIT between UAE and Lebanon. The broader International Investment Law principles would also be taken into consideration.
At last, the group has stated that now it is not willing to consider any effort of settlement that addresses it’s claims or restore it’s rights.
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