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


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.

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Litigation is KIAP's core practice. According to results of Best Lawyers 2020 KIAP was recognized as the law firm of the year in the field of litigation. Litigation practice is also 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 and Anna Grishchenkova are ranked top of the field. Andrey Korelskiy, the practice head, 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. In 2020 Anna Grishchenkova was appointed as Regional Representative Russian Federation of the IBA Litigation Committee for the second time, and during 2018-2020 she was 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 (the Board Member of the Russian 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.

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