Djibouti Moves To Stay Judgment Pending Appeal Of $541M Arbitral Award

Mealey's (March 8, 2023, 1:33 PM EST) -- WASHINGTON, D.C. — The Republic of Djibouti recently moved in a District of Columbia federal court to stay judgment and post-judgment enforcement proceedings after the court’s recent ruling granting a Djibouti-based joint venture’s petition to confirm two London Court of International Arbitration (LCIA) awards worth more than $541 million for a dispute over control of a container ship terminal on the Red Sea pending the outcome of Djibouti’s appeal to the District of Columbia Circuit U.S. Court of Appeals....