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Wena Hotels, Limited v. Arab Republic of Egypt
International Centre for Settlement of Investment Disputes
41 I.L.M. 881 (2002)
Wena Hotels Limited (Wena) (plaintiff) entered into lease agreements with the Arab Republic of Egypt (Egypt) (defendant) to operate and upgrade the Luxor Hotel and the El Nile Hotel. A series of disputes arose when Wena withheld rent, because it felt the condition of the hotels was not as described in the leases. Eventually, Wena was evicted, and a court receiver was appointed over the hotels. Wena filed a request for arbitration before an International Centre for Settlement of Investment Disputes (ICSID) tribunal. Egypt objected to ICSID’s jurisdiction on the grounds that Wena, an English incorporated company, was owned by an Egyptian national, and therefore Wena should be treated as being an Egyptian company under the ICSID Convention.
Rule of Law
Holding and Reasoning
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