Minister of Justice: This decision is a victory for Lebanon!

“The decision issued in the arbitration demand in Washington is a victory for Lebanon, and thanks to the efforts of those involved in bringing the case, we have saved hundreds of millions of dollars for the treasury, with right and law,” he said Acting Justice Minister Marie Claude Negm in a tweet on her Twitter account.

He added: “With this news, we are increasingly sure that each file has a correct and fair complement, if we face any appropriation of Lebanese funds, and that is what we are determined to do.”

The decision issued in the arbitration case in Washington is a victory for Lebanon, and thanks to the efforts of those involved in the prosecution of the case, we have saved hundreds of millions of dollars, right and right, to the treasury …
With this news, we are increasingly confident that each file has a fair and correct complement, if we face any appropriation of Lebanese funds. That is what we are determined to do. pic.twitter.com/tGESZ19uH7

– Marie-Claude Najm (@MarieClaudeNajm) January 20, 2021

And the Ministry of Justice announced in a statement on Tuesday that “the decision was issued on 1/14/2021 by the Arbitration Board of the International Center for Settlement of Investment Disputes (ICSID) in Washington, DC.
The final arbitration claim filed against the Lebanese state by Mr. Abdel Jaouni and Imperial Holding SAL (3/15 / ICSID Case No ARB), to claim compensation for alleged damages resulting from the decision issued by the General Directorate of Civil Aviation – Ministry of Works and Transportation to cancel the certificates of “Air Investor” (A, OC) and “Terrestrial Support Services” (G,, H, C) of Imperial Jet SAL.

He noted that “this arbitration decision constitutes an important victory for Lebanon after six years of arbitration proceedings. The aforementioned decision has returned most of the plaintiffs’ requests and estimates of the alleged damages, which amounted, starting at, to more than 1.2 billion dollars, and were based on realistic estimates submitted by the State. Lebanese, which amounted to ($ 218,205.00)
An American, which is the amount that the decision spent for the plaintiff, with the interest of 22.5%, while it was decided that the plaintiff must pay the Lebanese state the expenses incurred by the latter for the first stage of the trial, which amounts to to $ 478,939.24, and for the second stage. Of which the value is $ 64,125,861, with an interest that amounts to 22.5 percent, so the result of the arbitration decision is that the Lebanese State is owed in the hands of the plaintiff an amount of $ 266,201.88 , and the lawsuits have become lawsuits. “