The «Habtoor Group» has officially announced the appointment of the law firm «White & Case», specializing in sovereign disputes and treaty-based investment arbitration, to represent the group in pursuing its claims related to its investment dispute with the Lebanese Republic. The group stated that it has entered the final stage of preparations to initiate international arbitration proceedings in the US capital Washington, in accordance with the dispute settlement mechanisms stipulated in the bilateral investment treaty between the United Arab Emirates and the Lebanese Republic, and in line with the international frameworks applicable in the field of investment protection. In a statement, the group clarified that this comes after the expiration of the six-month cooling-off period stipulated in the treaty, and in the absence of any effective corrective measures, a serious settlement offer, or institutional contact capable of addressing the serious breaches and damages for which the Lebanese authorities had been previously notified. The «Habtoor Group» said in its statement: «All investments made by the «Habtoor Group» in Lebanon were conducted in good faith, based on Lebanese laws and binding international obligations. Nevertheless, preparations for filing the arbitration lawsuit in Washington have reached an advanced stage. The group emphasized that protecting investors, complying with treaties, and respecting international legal obligations remain fundamental pillars of economic credibility. Accordingly, its actions represent not only a pursuit to recover its rights but also an embodiment of a principled commitment to the rule of law and the sanctity and protection of foreign investments, confirming that it will continue to inform stakeholders and the public on developments as the arbitration proceedings progress. The group also exercised a great degree of restraint and for a long time sought to settle the dispute amicably, providing a full opportunity for a resolution within the treaty framework. However, the continued inaction, the worsening of institutional paralysis, and the absence of any effective remedial measures left the group with no choice but to resort to official international legal channels to enforce its rights and recover them in accordance with the frameworks recognized in international law». The «Habtoor Group» confirmed that it remains open to any serious and organized settlement initiative that would fully restore its rights and compensate for the damages incurred.
