INTEGRITES has won USD-multimillion arbitration at the ICAC at UCCI
INTEGRITES successfully represented the interests of the Ukrainian respondent in a dispute with one of the largest Russian companies in the chemical industry for over USD 14,5 million.
The Russian claimant filed multi-component claims to the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry for the recovery of damages, loss of profit, penalties and moral damage from the Ukrainian company for the amount of over USD 14,5 million, and a specific performance claim for additional delivery of products under the contract. Also, the Russian company sought to invalidate additional agreements to the contract as executed under the influence of difficult circumstances, and for the restitution to be made, respectively.
INTEGRITES arbitration team managed to defend the Ukrainian respondent and to prove that nearly all the claims against it were groundless. The arbitral tribunal has agreed with the overwhelming majority of the arguments of the INTEGRITES lawyers and dismissed the main claims, in particular: on invalidation of additional agreements and application of restitution; on recovery of loss of profit, penalties and moral damages.
The work on the project was completed by the team of INTEGRITES lawyers, headed by the partner and head of CIS International Arbitration Practice, Olena Perepelynska, and the senior associate, Dariya Ganzienko.