Judge Confirms $500M Awards Against Djibouti In Container Terminal Dispute

Mealey's (February 16, 2023, 1:08 PM EST) -- WASHINGTON, D.C. — A District of Columbia federal judge on Feb. 15 granted a Djibouti-based joint venture’s petition to confirm two London Court of International Arbitration (LCIA) awards worth more than $500 million against the Republic of Djibouti for breaching a contract over control of a container ship terminal on the Red Sea, rejecting all of Djibouti’s arguments, including that the joint venture is no longer legally authorized to pursue confirmation of the award....