Egyptian Court Rejects "EVER GIVEN" Appeal

The Ismailia Economic Court issued a decision rejecting the appeal submitted by the company that owns the Panamanian ship "EVER GIVEN", which ran aground in the Suez Canal on March 23 and lasted for 6 days, currently docked in the canal’s Great Bitter Lake.

Earlier, the Suez Canal Authority (SCA) submitted a request to the court to seize the vessel, placing it under the authority of the Economic Court possession, and prohibiting the operating company from the possibility of transporting the 18,000 cargo containers to other ships as they are still stuck in legal procedures, including a $1 billion in compensation.

This came after the vessel's operating company delayed paying compensation and did not respond to demands to pay the losses it caused to the Suez Canal over a period of 6 days.

The Suez Canal confirmed that investigations are continuing in parallel with the continuation of negotiations with the ship-owning company and the insurance company, with the aim of reaching an agreement suitable for all parties.

The representative of the company demanded a 24-hour period to review and respond to the authority’s memorandum submitted, and demanded to see all the documents submitted by the SCA.