Cairo-Mubahser: A Cairo court has adjourned the lawsuit filed by Banque Misr against Sofisat Communication since 30 November 2012 until fully repaying EGP 967,979,000 the lender claims from the company, in addition to the contractual return on the amount.  

The investment firm had raised a syndicated loan worth EGP 300 million from four banks in July 2002, and the banks authorized Banque Misr to claim the amount.

The court said Cairo Regional Centre for Commercial Arbitration is looking into two cases, and the bank has not provided the relevant evidences. Thus, the court adjourned the lawsuit until it is adjudicated by the arbitration centre.