Egypt

We are pleased to announce that the Litigation team at Matouk Bassiouny & Hennawy (“MBH”) has secured a landmark victory in a high-stakes, long-running dispute in favor of NESCO Egypt for Tourism Investments, involving a total exposure exceeding EGP 4 billion. The dispute started in 2011, when the company initiated proceedings seeking a declaration of non-liability in relation to alleged indebtedness claimed by one of Egypt’s largest banks. The banks subsequently filed counterclaims seeking repayment of the loan amount together with various forms of accrued interest. In 2021, a judgment was rendered at first instance against the company, ordering repayment to three major banks, inclusive of compounded and variable interest, bringing the total adjudicated liability to over EGP 4 billion—exceeding the principal amounts originally claimed. At the appellate stage, our firm was instructed to assume representation of the client at a critical juncture, notably after the Cairo Court of Appeal had reserved judgment on the appeals filed by the company, the banks, and a major real estate development company. We promptly submitted a motion to reopen pleadings, supported by compelling legal arguments and evidence demonstrating the necessity of enabling the client to fully present its defense. The Court of Appeal granted our motion and ordered the reopening of pleadings. During the subsequent hearing, our team advanced comprehensive legal arguments and strategic defenses, seeking the complete annulment of the first-instance judgment and a declaration that the court lacked jurisdiction. In a significant development in 2024, the Court of Appeal ruled in our favor, setting aside the first-instance judgment and determining that jurisdiction properly rested with the Cairo Economic Court. While this constituted a major procedural and substantive success, the dispute continued following referral to the competent court. Over the ensuing period, we diligently represented the client before the Cairo Economic Court, submitting detailed pleadings and robust defenses. The court ultimately upheld our position and dismissed the banks’ claims in their entirety. This outcome represents a decisive and comprehensive victory for our client and underscores MBH’s proven ability to successfully navigate complex, high-value disputes and deliver exceptional results under demanding circumstances. The MBH team that handled this matter was led by Dr. Mohamed Shehata (Partner and Head of Litigation & TMT), Reda Morsy (Legal Director), Dr. Tamer Sayed (Legal Director), Khaled Shedid (Legal Director), Eslam Abdeldayem (Counsel), Abdelrahman Hassan (Senior Associate), Mohamed Hanafy (Associate), Abdelrahman Agha (Associate), and Yara Abdelaleem (Associate). For more about Matouk Bassiouny, check out our website at https://matoukbassiouny.com/

Matouk Bassiouny & Hennawy (“MBH”) is proud to announce a significant achievement by its Litigation team, successfully securing a landmark victory in a complex cross-border criminal dispute involving asset exposure exceeding EGP 1 billion. MBH represented one of Lebanon’s most prominent families in a multi-jurisdictional matter arising from a series of fraudulent transactions targeting extensive landholdings across Lebanon, Egypt, and Jordan. Investigations uncovered a sophisticated scheme involving the forgery of multiple powers of attorney, which were unlawfully used to facilitate the sale and disposal of key real estate assets in both Egypt and Lebanon. MBH was engaged at a critical stage of the dispute and promptly undertook a comprehensive legal and factual assessment. Upon identifying strong evidence of criminal conduct, our team initiated coordinated legal action, including the filing of criminal complaints and the submission of extensive evidentiary records before the Public Prosecution. Over a two-year period, MBH’s team led all aspects of the proceedings before the Public Prosecution, including drafting detailed submissions, attending investigative sessions, and solidifying legal arguments supported by documentary evidence. These efforts culminated in the successful referral of the principal perpetrator to trial before the competent Felony Criminal Court. In a decisive outcome, the court issued its judgment convicting the defendant of forging official documents and unlawfully using them, sentencing him to 15 years of rigorous imprisonment. This landmark judgment underscores MBH’s capability to navigate complex, high-stakes criminal matters across multiple jurisdictions. It represents a decisive victory for the client, securing substantial assets and reinforcing the rule of law against sophisticated fraudulent schemes. The MBH team that handled this matter was led by Dr. Mohamed Shehata (Partner and Head of Litigation & TMT), Reda Morsy (Legal Director), Eslam Abdeldayem (Counsel), Ayman Sedik (Legal Director for Criminal Enforcement & Intelligence), Mahmoud Ghanem (Senior Associate), Hamada Farahat (Senior Associate), and Mohamed Hanafy (Associate). For more about Matouk Bassiouny, please visit our website at https://matoukbassiouny.com/.

We are pleased to announce that Matouk Bassiouny’s arbitration team has secured a favourable award for a major Egyptian pharmaceutical company, acting as an agent and distributor for several international pharmaceutical companies. The dispute arose out of a long-term contractual relationship concerning the promotion and distribution of pharmaceutical products for a leading European pharmaceutical company. The arbitration was conducted under the Dubai International Arbitration Centre (DIAC) Rules, with its seat in Dubai, UAE, and governed by German law. Following complex arbitral proceedings, including the cross-examination of multiple witnesses, the Tribunal issued an award in our client’s favour, granting an award of approximately EUR 2.1 million. This successful outcome was achieved by our team, led by Dr Ahmed Abdelhakeem (Partner), together with Khaled Abou El Wafa (Senior Associate), and Mohamed Abdelkhalek (Associate). We are also grateful to Oliver Korte, Helena Thiel, and Christopher D. Harten of ADVANT Beiten for their valuable support on German law issues. For more about Matouk Bassiouny, visit matoukbassiouny.com.

We are pleased to announce that Matouk Bassiouny & Hennawy, in collaboration with the legal department of Juhayna Food Industries, has successfully obtained a significant court ruling in favor of the company.  The judgment establishes an important and modern judicial precedent concerning the application of conflict of interest rules for listed companies, integrating both the provisions of the Egyptian Companies Law and the listing and delisting regulations of the Egyptian Exchange. The court upheld the validity of Juhayna’s decision to exclude a candidate from running for membership on its Board of Directors, on the grounds that the candidate was engaged in a competing business activity without obtaining prior authorization from the company’s General Assembly—even where such activity predated the candidate’s nomination. Amr Ehab, Partner in our Litigation Department, commented that this ruling represents a significant judicial precedent for companies listed on the Egyptian Exchange. He further noted that the judgment highlights the efficiency of the Economic Court in resolving investor-related disputes under Egyptian corporate law, with the case being adjudicated in less than five months from the filing date. The case was handled by Amr Ehab (Partner), alongside Nora Rabie (Senior Associate), under the supervision of Mohamed Abdel Fattah (Partner and Head of Capital Markets) at Matouk Bassiouny & Hennawy. We are proud to have supported Juhayna Food Industries in securing this landmark judgment and to have contributed to establishing a key precedent in the Egyptian legal landscape. For more about Matouk Bassiouny, visit matoukbassiouny.com.