News DeskDubai, UAE – The Al Habtoor Group, a prominent Emirati conglomerate, has initiated legal proceedings against the Lebanese Republic, alleging breaches of the Bilateral Investment Treaty between the United Arab Emirates and Lebanon. The dispute revolves around Lebanon’s failure to uphold its obligations under the 1999 UAE-Lebanon Treaty, specifically regarding the protection of Emirati investments within its borders.
Al Habtoor Group, with close to USD 1 billion invested in Lebanon, has encountered obstacles, including restrictions imposed by Lebanon and its Central Bank, preventing the free transfer of funds exceeding USD 44 million from Lebanese banks. Additionally, Lebanon has allegedly failed to provide a secure environment for Al Habtoor Group’s businesses, resulting in significant losses and damages.
Represented by the international law firm White & Case LLP, Al Habtoor Group has formally notified various Lebanese Government bodies of the dispute, triggering a six-month cooling-off period as stipulated in the UAE-Lebanon Treaty. If unresolved within this timeframe, Al Habtoor Group reserves the right to pursue legal actions both locally and internationally against the Lebanese Republic.
The outcome of this dispute will be closely watched, as it may have broader implications for diplomatic and economic relations between the UAE and Lebanon.
