US EditionUAE conglomerate group to take legal action against Lebanon over $1.7B investment losses
Al Habtoor Group claims $1.7 billion in damages due to Lebanon's imposed restrictions and economic crisis, pursuing legal measures after exhausting amicable resolution efforts.
- On Monday, Al Habtoor Group said it will take legal action against Lebanese authorities, citing damages exceeding $1.7 billion to its assets in Lebanon.
- After Lebanon's 2019 banking collapse, Al Habtoor Group said in recent years its investments `have suffered severe and sustained harm` as Lebanese authorities and Banque du Liban blocked access to deposited funds.
- The group's Lebanese portfolio includes a Beirut-suburb hotel and Habtoor Land theme park east of Beirut, while the statement did not specify the legal jurisdiction for any action.
- The case could undermine efforts to restore investor confidence and thaw Gulf capital flows, as Gulf states remain hesitant until Lebanon enacts financial reforms amid $11 billion in reconstruction needs from the Israel-Hezbollah war.
- After years of banking restrictions described as informal capital controls, Khalaf Ahmad Al Habtoor canceled planned investments in Lebanon in January 2025 and said he would sell properties amid continuing instability.
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15 Articles
UAE firm’s $1.7B legal threat spotlights Gulf split on Lebanon as Qatar invests
Lebanon’s bid to lure Gulf investment into its crisis-stricken economy is facing turbulence as Dubai's Al Habtoor Group threatens legal action over more than $1.7 billion in losses, while Qatar is making an investment push.
UAE Conglomerate Seeks Redress for $1.7 Billion Loss, Clouding Lebanon’s Gulf Outreach
Dubai-based Al Habtoor Group has said it will pursue legal action against Lebanese authorities over losses exceeding $1.7 billion, a move that could further undermine Lebanon’s fragile efforts to restore investor confidence and attract much-needed Gulf capital. The announcement comes as Lebanon continues to struggle with the aftermath of its 2019 financial collapse, one of […] The post UAE Conglomerate Seeks Redress for $1.7 Billion Loss, Cloudi…
Today, a group of Emirates companies announced their intention to take legal action against the Lebanese authorities against the backdrop of a dispute over their investments in Lebanon, which is suffering from a severe economic crisis, noting investment losses of $1.7 billion. The Dubai-based group of Hebron companies said that they had suffered significant losses in Lebanon as a result of the country's historic economic collapse in late 2019.
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