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Antaradus files 2 lawsuits against Amer Group & Porto Group for compensation

Antaradus files 2 lawsuits against Amer Group & Porto Group for compensation

ArabFinance: Amer Group (AMER) has announced that Antaradus For Touristic Development Company, Mohamed Wahoud, and others, have filed two lawsuits against the company at the North Cairo Elementary Court; the first lawsuit claiming compensation, and the second for the return of undue by Amer Group, Porto Group (PORT) and Mansour Amer in person. The Court has set the first sessions to be held on February 28, 2019, and March 03, 2019.

Antaradus Co. filed arbitration case No. 986 / 2014 against Amer Group and Amer Syria Development at the Cairo Regional Centre for International Commercial Arbitration (CRCICA), Amer Group said in a bourse statement.

The Egyptian real estate company said that Antaradus for Touristic Development is asking for the termination of the Porto Tartous contract and $ 176 million in compensation.

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