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CRCICA Caseload Report 1st Quarter 2023, An Increase in the Sum in Dispute

Caseload Report 1st Quarter 2023:

The total number of cases filed before CRCICA until 31 March 2023 reached 1633 cases. In the first quarter of 2023, 15 new cases were filed compared to 22 new cases filed the first quarter of 2022.

Of the 15 cases filed this quarter, 3 related to ad hoc proceedings, while the remaining 12 cases related to CRCICA proceedings. The first quarter of 2023 also witnessed 6 new multiparty cases, representing 40% of the cases this quarter.

The Centre’s caseload in the first quarter of 2023 involved disputes relating to various sectors, including Construction, Oil & Gas, Banking & Finance, Corporate Restructuring, Real Estate Development, and Tourism & Hospitality.

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Seven cases related to the construction industry. Four cases involved agreements for the supervision of works between an Egyptian real estate developer and an Egyptian consultancy firm related to four projects located in Egypt. Two cases involved contracts for works. The first case involved four contracts for the installation of elevators and escalators in a project located in Alexandria, Egypt. The second case involved a contract for works for a project located in Hurghada, Egypt. One case involved a construction agreement between two Egyptian companies for the construction of a hotel in the Red Sea Governorate.

Two cases related to the oil & gas sector. The first case involved a settlement agreement based on a joint operating agreement between two companies, one based in the British Virgin Islands and the other in Bermuda, and an Egyptian company. The second case involved an agreement for the charter of a motor tanker between a Greek owner and an Egyptian State owned entity.

One case related corporate restructuring and involved a shareholders’ agreement between a Kuwaiti company and two Egyptian companies.

One case related to the real estate development sector and involved a land purchase agreement between two Egyptian parties.

One case related to the tourism and hospitality industry and involved a franchise agreement between two Egyptian companies.

One case related to the banking and finance sector and involved an Islamic finance agreement between an Egyptian bank firm and an Egyptian company.

One case involved an agreement for the lease of a facility located east of Cairo between two Egyptian parties.

One case involved an agreement for the purchase of a factory located in Suez, Egypt, between two Egyptian companies.

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Arbitration proceedings in the first quarter involved parties from Bermuda, British Virgin Islands, Egypt, Greece and Kuwait.

The first quarter of 2023 witnessed the appointment of 48 arbitrators from Egypt, Lebanon, and Saudi Arabia.

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Of the 48 arbitrators appointed this quarter, 4 were female arbitrators, representing 8% of appointments, and 6 were under the age of 40, representing 12.5% of appointments.

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The Centre acted as appointing authority for some cases, appointing 4 of the 48 arbitrators appointed this quarter, representing 8% of the appointments.

Amongst the 15 cases filed in this quarter, 13 cases, representing 87% of the total number of cases, were conducted in Arabic while 2 cases, representing 13% of the total number of cases, were conducted in English.

 

 

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Although the number of cases registered in the first quarter of 2023 was less than in the first quarter of 2022, both the average and total sum in dispute have increased significantly.

The average sum in dispute during the first quarter of 2023 amounted to USD 6,562,601 compared to USD 2,004,287 during the same period in 2022, representing a 227% increase in the average sum in dispute. Similarly, the total sum in dispute during the first quarter of 2023 amounted to USD 98,439,018 compared to USD 42,400,037 during the same period in 2022, representing a 132% increase in the total sum in dispute.

 HEARINGS:

Since 1 January 2023, CRCICA has hosted 35 hearings. Of these 35 hearings, 7 related to ad hoc arbitrations administered by the Centre, 9 was a hired room for an ad hoc arbitration external to the Centre, including ICC, ICSID and CAS proceedings, and the rest of the hearings related to CRCICA arbitrations.

During the first quarter of 2023, 4 hearings were held remotely, representing 11% of hearings, 1 hearing was held with hybrid attendance, representing 3% of hearings and the remaining 30 hearings were held with physical attendance (in compliance with the Centre’s social distancing guidelines), representing 86% of hearings.

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 Posted in News
 Published on Mar 31 2023

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