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.


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Litigation

Litigation is KIAP's core practice. The practice is represented in Band 1 of Chambers Europe international rating for a third successive year. 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 recommended by all international directories: Chambers Europe, Chambers Global, Legal 500 EMEA, as well as by Russian Pravo 300, Pravo-300’s "Sympathy rating" and Kommersant. 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 of the Russian Federation in the IBA Litigation Committee for the second time, in 2019 she was appointed Deputy Chairman of the ICC Russia Commission on Arbitration. Anna is also a Regional Ambassador at HK45 - Hong Kong International Arbitration Centre’s committee (HKIAC). She is included into panel of arbitrators in Hong Kong (HKIAC) and into list of arbitrators in Austria (VIAC), Kuala Lumpur (AIAC), Korea (KCAB INTERNATIONAL) and Russia (the Board Member of the Russian Arbitration Center). Among the practice's clients are major Russian and international companies from various sectors of the economy.


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