KIAP lawyers successfully defended Principal’s interests on bank counter-guarantee in the amount of more than 250 millions rubles

27.11.2018

KIAP lawyers successfully defended Principal’s interests on bank counter-guarantee in the amount of more than 250 millions rubles

The case concerned the recovery of previously paid money under a counter-guarantee that ensured the performance of construction works by a subcontractor.

The Bank argued that KIAP Principal unreasonably filed a claim under the bank guarantee as the subcontractor had performed his work and there was no basis for payment under the guarantee. Despite the complex system of payments with the subcontractor in several currencies and the fact that the subcontractor was in the process of bankruptcy, KIAP lawyers managed to prove that the cost of the work performed by the subcontractor was much less than the amount received under the contract. In addition, the Bank, making payments on counter-guarantee, had all the necessary information about the amount of work performed. As a result, the court concluded that the actions of the Principal were justified and the Bank's claim was denied in full.

The Client’s interests were represented by  Ilya Dedkovskiy, AnnaGrishchenkova and Roman Suslov.


Twitter Facebook Яндекс Livejournal

Litigation

Litigation is KIAP's core practice, recommended by Chambers Europe, Chambers Global, Legal 500 EMEA, as well as by Russian Pravo.Ru 300, Kommersant ranking  and Pravo-300 "Sympathy rating". Andrey Korelskiy, Anna Grishchenkova and Konstantin Astafiev are ranked top of the field. Andrey Korelskiy, the practice head, is an Associate at the Chartered Institute of Arbitrators (CIArb), in 2018 became Deputy Chairman of the Russian Arbitration Association (RAA) and was included into the unified recommended list of arbitrators and the corporate dispute panel of the Arbitration center at the RSPP. During 2016-2018 Partner Anna Grishchenkova was a regional representative of Russia in the IBA Litigation Committee, in 2018 was appointed a Co-Chair of the Young Litigation Lawyers Forum of IBA. Has the status of Member of The Chartered Institute of Arbitrators (CIArb) and is also a Regional Ambassador at HK45 - Hong Kong International Arbitration Centre’s committee (HKIAC). She is included into list of arbitrators in Austria (VIAC), Kuala Lumpur (KLRCA), Hong Kong (HKIAC), Russia (RAA), the Board Member of the Arbitration Center. Best Lawyers 2013 named Konstantin Astafiev the Litigator of the Year in Russia. Among the practice's clients are major Russian and international companies from various sectors of the economy.


Back to the list