US court enforces $200 million award for DP World against Djibouti

[Arkan]

US court enforces $200 million award for DP World against Djibouti

DP World initiated proceedings in the US courts last year to enforce the third partial award issued by Australian arbitrator Zachary Douglas KC.

nation.africa

 

[Arkan]

That's the ninth hearing DP World has won in an international court and they are still not finished.

Djibouti did not comply with 8 prior hearings/rulings by the London Court of International Arbitration, the High Court of England and Wales, and the Hong Kong Court where they were ordered to restore DP World's rights or pay the damages at $200m with further total damages awarded to DP World in various rulings which have accumulated to approximately $686.5 million, plus accruing interest, and legal fees. This US enforcement does not look good for Djibouti. They could only breach international obligations for so long.

DP World wins latest judgement in Hong Kong Court over Djibouti concession

DP World has won the latest in a string of court rulings, as it defends its rights as shareholder and concessionaire in Djibouti’s Doraleh Container Terminal.The Court of Appeal of Hong Kong has dismissed the latest request by China Merchants Port Holdings seeking permission to file a second...

www.dpworld.com