Judge Stays Enforcement Of $2B Arbitral Award Against Egypt Pending ICSID Appeal

Mealey's (June 10, 2020, 10:48 AM EDT) -- WASHINGTON, D.C — A federal judge in the District of Columbia on June 4 stayed a Spanish gas company’s petition to enforce a $2 billion arbitral award against the Arab Republic of Egypt due to Egypt’s pending application to annul the award and its existing economic woes that have been aggravated by the outbreak of the novel coronavirus (Unión Fenosa Gas, S.A. v. Arab Republic Of Egypt, No. 18-2395, D. D.C., 2020 U.S. Dist. LEXIS 98645)....

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