Arbitrator rules Egypt must compensate EMG - GLOBES

2 Mar, 2017 15:56
Aviv Levy

The international arbitration panel ruled that Egypt failed to protect the Sinai pipeline from terrorists.

An announcement published yesterday by Ampal-American Israel Corporation concerning the arbitration ruling issued in the past few days by the International Centre for Settlement of Investment Disputes (ICSID) in Washington DC is likely to give hope to the company's bondholders. The company went bankrupt under controlling shareholder Yosef Maiman, with debts of nearly NIS 1 billion.

Affiliate of Rosneft to acquire Jet Oil - KATHIMERINI

14.12.2016 : 21:21

Rosneft has its eye on Greece’s Jet Oil, as the latter’s lawyers have cited acquisition interest by Vienna-based Cetracore Energy, in which the Russian oil giant holds a stake, in asking for the postponement of a court hearing connected with Jet Oil seeking protection from its creditors.

Jet Oil will now apply to be protected under the bankruptcy code in the same way that the Marinopoulos supermarket chain did, backed by its candidate buyer the Sklavenitis chain, and the case of the oil company will now be heard on February 14.

Cetracore Energy is 80.1 percent controlled by Luxembourg-based UFG Europe Holding, in which Rosneft subsidiary Rosneft JV Projects SA holds a 19.9 percent stake.