Businessman Seeking To Confirm $115M Award Against Egypt Will Move For Default

Mealey's (June 21, 2021, 8:40 AM EDT) -- WASHINGTON, D.C. — A Finnish businessman in a June 4 status report to a District of Columbia federal court said he intends to move for entry of default judgment against the Arab Republic of Egypt for an arbitral award worth more than $115 million for its 2000 expropriation of his investments in an iron ore mining concession after the clerk entered default against Egypt, which has not responded to service for more than six months....