Challenges of Cairo Award

 

The attempts by Saudi Arabian and Egyptian award creditors to enforce in California and in Texas an award rendered in Cairo by a tribunal in proceedings administered by an International Arbitration Centre (IAC) have been opposed by the award debtor, Chevron, which has alleged that the proceedings would be affected by serious irregularities.

It has been reported that, after many resignations and reappointments of arbitrators, the Chairman issued an award denying jurisdiction which IAC would have considered to have not been properly delivered to it.

This produced the result that a new tribunal was appointed, which awarded US $ 18 billion to the plaintiffs.

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