Redcliffe Partners won the ICAC arbitration based on a rare type of arbitration agreement

12/ 02/ 2019

Listen to online Stop   Redcliffe Partners has successfully represented the counterclaimant, a Ukrainian subsidiary of a major multinational electronics producer, against the Turkish claimant (respondent to the counterclaim) in a commercial arbitration under the rules of the ICAC at the UCCI. The Turkish claimant brought the original claim for termination of the parent company’s guarantee. The counterclaim was based on an arbitration agreement concluded by exchange of the statement of claim and statement of defence. The Arbitral Tribunal found itself competent to hear the counterclaim based on the said arbitration agreement, granted the counterclaim – in excess of UAH 36 million – in full, and dismissed the original claim. This case is one of the very few in Ukraine in which an arbitration agreement of this type has been invoked. Redcliffe Partners team consisted of associates Victoria Ivasechko and Yaroslav Petrenko.

Redcliffe Partners has successfully represented the counterclaimant, a Ukrainian subsidiary of a major multinational electronics producer, against the Turkish claimant (respondent to the counterclaim) in a commercial arbitration under the rules of the ICAC at the UCCI. The Turkish claimant brought the original claim for termination of the parent company’s guarantee. The counterclaim was based on an arbitration agreement concluded by exchange of the statement of claim and statement of defence.

The Arbitral Tribunal found itself competent to hear the counterclaim based on the said arbitration agreement, granted the counterclaim – in excess of UAH 36 million – in full, and dismissed the original claim. This case is one of the very few in Ukraine in which an arbitration agreement of this type has been invoked.

Redcliffe Partners’ team consisted of associates Victoria Ivasechko and Yaroslav Petrenko.