Parliament approves new law to help settle disputes of public business companies

Policy

Dr. Ali Abdel-Al, President of the House of Representatives, approved the approval of the draft law submitted by the government to authorize the transfer of some applications related to the implementation of the provisions to the two committees provided for in Articles (85 and 88) of the Investment Law promulgated by Law No. 72 of 2017 in total. Until the availability of a two-thirds majority as laws complementary to the Constitution.

The bill was designed to deal with the consequences of some people – during the period from January 2011 to 2014 – appeal before the Administrative Court of the decisions of the sale of public business companies on the basis of the failure to follow the proper legal procedures, and the issuance of judicial decisions to cancel the sales decisions referred to, The State has taken measures to implement the provisions after they have become final. Several decisions have been issued by the Prime Minister; however, due to the multiplicity and multiplicity of the actions taken on these companies and the procedures and transactions that were based on these actions, and the impossibility of implementing them in kind, And for commitment to implementation in kind to comply with the performance of the compensation required by the State in view of the kind of implementation and enforcement by way of compensation Ksaman Mtkavian (according to what was issued in this regard by the General Assembly of the sections of the Fatwa and Legislation in Opinion No. -58-1-314).

It should be noted that to date, the settlement of the aforementioned companies has not been completed, nor has there been any dispute arising out of these disputes. Consequently, some investors who are party to some of these disputes resort to international arbitration against the Egyptian state, Arbitration disputes, which shows the importance of resolving this issue to avoid the risk of negative impact of the failure to settle on the economic conditions and investment climate in Egypt.

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