Tribunal Gives Djibouti 2 Months To Restore Port Rights
Law360 (January 14, 2020, 5:06 PM EST) -- A London-based tribunal has ordered Djibouti to restore the Emirati company DP World's right to operate a deep-sea terminal that the East African nation illegally seized and transferred to a state-owned company, according to a Tuesday statement.
The London Court of International Arbitration ruled that Djibouti violated a 2006 concession agreement signed with DP World in exchange for building and operating the Doraleh Container Terminal. The tribunal said Djibouti will have to restore DP World's access and rights to the port within the next two months or pay damages.
Djibouti's government terminated the agreement with DP World in February 2018 after...
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