The International Court of Arbitration at the International Chamber of Commerce (ICC) ruled in favor of the Principal of KIAP, Attorneys at Law.
The dispute under the ICC rules with the place of arbitration in Stockholm was conducted in English and concerned the violation by the Principal’s subcontractor of the deadlines of the construction works and it’s nonconformity. The subject of the Principal's claims included compensation by the subcontractor of losses arisen on substitute transactions and in connection with the elimination of the committed defects of the construction, as well as the refund of an unearned advance payment in relation to the termination of the subcontract.
It is important to note that construction disputes in arbitration have their own specifics that should be taken into account. The main feature that the lawyers of the Firm regularly deal with is a substantial scope of evidence that needs to be well systemized and clearly presented, especially in disputes for recovering of losses.
As a result of this dispute the lawyers of KIAP team succeeded in meeting all the requirements of the Principal: both in terms of refunding the unearned advance payment and in terms of recovery of all losses incurred, including on substitute transactions and in connection with the elimination of defects. Besides the lawyers managed to get full compensation for all legal expenses of the Principal.
The Principal’s interests on the project were represented by Partner Anna Grishchenkova, Senior Associate Natalia Kisliakova, Head of Bankruptcy practice Ilya Dedkovskiy and Senior Associate Stepan Sultanov.