Shalakany is pleased to announce that they have represented their client, a major international hotel management company operating luxurious hotels, in settling a claim worth more than USD 40 Million arising out of the hotel management agreement of one of the most luxurious hotels in Egypt. Shalakany has successfully acted for their client in concluding an amicable settlement agreement with the hotel owner.
After initiating a claim worth more than USD 40 Million before the Cairo Regional Centre for International Commercial Arbitration (CRCICA), Shalakany has managed to secure a favorable settlement for their client. Shalakany represented their client in negotiations, discussions, talks, and meetings in order to achieve such a favorable outcome, preserving their client’s rights.
Dr. Moataz El Mahdy, Senior Partner and head of the Tourism and Hotels Department, said: “We are delighted to have secured such a favorable settlement, safeguarding our client’s rights in an amicable fashion. Given that the outcome will allow such a luxurious hotel to operate again after a very long time of closure, this settlement is not only a win for our client but also for the tourism industry in Egypt as a whole.”
Adam Khaled El Shalakany, Senior Partner, commented: “We are happy to have represented our client with regard to a dispute over one of the most authentic hotels in Egypt. An amicable settlement means a win-win situation for both parties. We always aim at securing the most favorable outcome for our clients.”
