KIAP successfully settles dispute before International Commercial Arbitration Court
KIAP represented a major Russian agro-industrial holding company in a dispute with a leader in the Australian livestock-farming market. The dispute arose out of a supply contract worth several millions US dollars. The contract had an arbitration clause for disputes between the parties to be referred to International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation. It proved possible, however, to settle the dispute under a pre-action protocol through complex and long talks, which resulted in a settlement on terms favorable for the client, thus avoiding arbitration. To date, the parties have complied with the terms of the arrangement, and the dispute has been fully resolved.
The engagement was carried out by KIAP Partner Konstantin Astafiev and Senior Associate Irina Suspitcyna.