News from arbitration practice: success of Interlegal at the London Court of International Arbitration
In February 2015 we reported Interlegal team, protecting the interests of a large international construction and engineering company – purchaser of construction equipment, initiated arbitration proceedings at LCIA (London Court of International Arbitration).
The claim was filed for the purpose of damage recovery caused by supply of defective equipment. Seven months of hard and fruitful work resulted successfully. The LCIA arbitrator recognized arguments of Interlegal lawyers as grounded and ordered to recover over $900.000,00 in favour of the claimants.
It should be noted that, besides recovery of the defective equipment cost and repair costs, the arbitration also satisfied the claimant’s application on penal sanctions (fine) for delay in the contract performance, which is hardly typical for the English court practice.