Al Habtoor Group, represented by the international law firm White & Case LLP, confirms that it has formally initiated international arbitration proceedings against the Lebanese Republic under the applicable bilateral investment treaty.
The Request for Arbitration, together with extensive supporting documentation, has been transmitted through the International Centre for Settlement of Investment Disputes (ICSID) in Washington DC, and the Lebanese Republic has been formally notified in accordance with established procedures.
This step follows a prolonged period of sustained and good-faith efforts by Al Habtoor Group to resolve the matter amicably, which have been fully exhausted without any meaningful or constructive outcome.
Al Habtoor Group’s investments in Lebanon were made in reliance on the country's legal and regulatory framework and the protections afforded under international agreements. The Group has incurred significant losses and damages in connection with these investments as a direct result of various measures taken by the Lebanese Republic over an extended period and of its failure to protect the Group’s investments.
The commencement of these proceedings reflects a clear and deliberate decision to pursue all available legal remedies to protect the Group’s rights and to seek full redress through the appropriate international legal channels.
Al Habtoor Group will pursue this process firmly and with discipline.