Al Habtoor Group has confirmed the formal appointment of White & Case, a leading international law firm, to represent the group in its previously announced investment dispute with Lebanon.

The group has entered the final stages of preparation for the commencement of international arbitration proceedings in Washington, D.C. in accordance with the dispute resolution mechanisms provided under the Bilateral Investment Treaty between the United Arab Emirates and Lebanon, as well as applicable international investment frameworks, it said.

"This follows the expiry of the six-months treaty-mandated cooling-off period and the absence of any meaningful corrective action, settlement proposal, or institutional engagement capable of addressing the severe breaches and damages previously notified to the Lebanese authorities," it said.

"All of the Al Habtoor Group’s investments in Lebanon were made in good faith, in reliance on Lebanese law and binding international obligations. The group exercised restraint and pursued amicable engagement for an extended period, allowing full opportunity for resolution within the treaty framework.

"However, continued inaction, institutional paralysis, and the absence of remedial measures have left the group with no alternative but to proceed through formal international legal channels to enforce and recover its rights," the group said in a statement.

Al Habtoor Group remains open to any serious and structured settlement initiative that fully restores its rights and compensates the damages incurred. Nevertheless, preparations for arbitration in Washington, D C are now at an advanced stage, it continued.

"Investor protection, treaty compliance, and respect for international legal obligations remain fundamental pillars of economic credibility. The group’s actions therefore reflect not only the pursuit of corporate recovery, but also a principled assertion of the rule of law and the sanctity/integrity of foreign investment protections," it added. - TradeArabia News Service