Dechert Secures Victory for Cedar Mundi in London Commercial Court

Dechert recently secured a significant victory for its client Cedar Mundi in the London Commercial Court.

On July 17, 2026, Mr Justice Bryan handed down a lengthy judgment in Cedar Mundi (Holding) SAL v Attieh & Ors [2026] EWHC 1820 (Comm), ruling in Cedar Mundi's favor on every single issue following a hard-fought six-week trial. The court ordered the return of an investment portfolio that had been transferred away at a substantial undervalue. A counterclaim by the defendants was also dismissed.

Cedar Mundi, one of the largest Lebanese venture capital funds, was established in 2015 under an initiative designed to encourage investment in Lebanon's emerging technology sector and support early-stage companies with real potential for growth. Cedar Mundi was backed by a consortium of 11 Lebanese banks. The Lebanese shareholders collectively own approximately 76% of Cedar Mundi, with the balance held by affiliates of Cedar Mundi’s Kuwaiti general partner and fund manager.

The case centered on the transfer of almost the entirety of Cedar Mundi's investment portfolio in 2020 and 2021 – transactions carried out by Cedar Mundi’s former executive director (a representative of the fund manager) without disclosure to Cedar Mundi's board or shareholders. Cedar Mundi advanced six distinct grounds for recovery under Lebanese law (including breaches of the Lebanese Code of Commerce and fraud) and succeeded on them all, with the judge finding that the transfers had been undertaken at a significant undervalue, without proper authority or disclosure and were void. The judge also accepted the evidence of Cedar Mundi’s witnesses and was highly critical of Cedar Mundi’s former director. Personal claims against the defendants remain to be determined at a subsequent hearing.

The Dechert team was led by of counsel Camille Abousleiman and partner Adam Silver, with counsel Julie Witham and associates Harley Evans and Richard Herstell. The counsel team was Ian Wilson KC and William Day of 3 Verulam Buildings. 

The judgment can be found here. 

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