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English news

05-Aug-2018

DP World responds to Djibouti government’s refusal to accept verdict

DP World on Saturday responded to Djibouti’s refusal to acknowledge a London Court of International Arbitration ruling by saying the government did not “recognise the international rule of law.” On Thursday, Arbitral Tribunal of the London Court of International Arbitration (LCIA) ruled that the Djibouti government’s seizure of control of Doraleh Container Terminal from DP World was illegal. As a result, DP World’s 30-year concession to operate the port “remains valid and binding” and laws and decrees issued to the contrary by the Djibouti government were devices to avoid its contractual obligations. On Friday, the Djibouti government stated that it did not accept the verdict. The Court’s decision upholding the continuing validity of the Concession is based on recognised principles of international law and is internationally binding both on the Djibouti government and so far as third parties are concerned, DP World’s statement said. 

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