DHAKA: Al Jazeera Media Network has served Egypt with a $150m compensation claim on the grounds that its investments in the country have been damaged since July 2013.
On Monday, the network lodged a formal ‘notification of dispute’ with the interim government of Egypt, reports Al Jazeera.
The ‘notification of dispute’ is based on a 1999 bilateral investment treaty between Egypt and Qatar, which stipulates the mutual promotion and protection of investments.
If there is no settlement between Al Jazeera and the Egyptian authorities within six months, Al Jazeera said it would send the case to international arbitration.
BDST: 2104 HRS, APR 28, 2014
