Bangladesh’s interim government has appointed international law firm White & Case LLP to defend the country in an arbitration case filed by S Alam Group.
White & Case LLP is a leading global law firm formed in the United States. While maintaining a strong US foundation and headquarters, it operates as a worldwide partnership with 46 offices across 31 countries.
The decision, approved by the government’s purchase committee on Tuesday, comes as the government prepares for a legal challenge over its crackdown on assets allegedly amassed through corruption under the Awami League regime.
Finance Adviser Salehuddin Ahmed confirmed the appointment, signalling the government’s intent to respond to the arbitration notice.
The legal battle involves “a lot of money” and the case is “very complicated,” he told reporters after the committee meeting in Dhaka, referring to the complaint filed with the World Bank’s International Centre for Settlement of Investment Disputes (ICSID).
The government has agreed to pay White & Case an hourly rate of $1,250 (Tk 152,691) to handle the proceedings.
The case was filed late last year by Mohammed Saiful Alam, founder of S Alam Group, and his family members.
The claimants, now Singaporean nationals, allege the interim government has violated a 2004 bilateral investment treaty between Bangladesh and Singapore by freezing their assets and conducting what they described as a “campaign of intimidation” against their business interests.
S Alam Group, a conglomerate with interests in banking, energy, and food, is accused of embezzling billions of dollars from the banking sector during the 15-year rule of the deposed prime minister, Sheikh Hasina.
https://www.thedailystar.net/business/economy/news/global-law-firm-hired-s-alam-arbitration-4098441
