Matouk Bassiouny & Hennawy | View firm profile
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.