One of Bangladesh’s wealthiest business families, S Alam and his relatives, has initiated international arbitration proceedings against the Bangladeshi government. They claim the government’s actions to recover assets, alleging illicit transfer, are causing them hundreds of millions of dollars in damages. The Legal Challenge The lawyers representing Mohammed Saiful Alam, the founder and chairman of the criticized S Alam Group, and his family, filed the request on Monday at the International Centre for Settlement of Investment Disputes (ICSID), which is part of the World Bank in Washington. The news was…
Read MoreS Alam Family Sues Bangladesh Government at World Bank’s Arbitration Center
