The S Alam Group issued a ‘dispute resolution notice’ to the interim government. The S Alam Group has given the interim government a six-month deadline to resolve the dispute over assets and investments. If the problem is not handled within this time frame, the group’s leader, Mohammad Saiful Alam, has stated that they will seek international arbitration.
The S Alam Group issued: Saiful Alam forwarded the ‘conflict settlement notice’ to Interim Government Chief Advisor Dr. Muhammad Yunus and several other advisors. In the notification, he sets a six-month deadline and claims that the interim administration is confiscating his assets and impeding his investments.
The Financial Times disclosed these details on Monday. According to the media site, Saiful Alam issued a notice on December 18 stating that he has launched worldwide legal attempts to recover the losses. However, he is making these efforts as a Singaporean, not a Bangladeshi. In this regard, the notification refers to Bangladesh and Singapore’s bilateral investment pact signed in 2004.
According to the notice, the S Alam family has been resident permanently in Singapore since 2011. Between 2021 and 2023, they became Singapore citizens. In 2020, they gave up their Bangladeshi citizenship.
According to the Financial Times, lawyers from the US law firm Quinn Emanuel & Sullivan sent the notification.
The notification argues that the Bangladesh government and its different agencies’ acts and carelessness resulted in the total or partial destruction of the investors’ interests and assets, i.e., the S Alam Group. This continued conduct and neglect violates investors’ rights under the investment agreement and Bangladeshi legislation, resulting in a conflict between the government and their client, Saiful Alam.
If the problem is not settled within six months, Saiful Alam would seek international arbitration.
The S Alam Group issued….
