AVELLUM DEFEATS USD20 MILLION CLAIM IN AN “EXCEPTIONALLY HARD-FOUGHT” LCIA ARBITRATION

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AVELLUM DEFEATS USD20 MILLION CLAIM IN AN “EXCEPTIONALLY HARD-FOUGHT” LCIA ARBITRATION

AVELLUM defeated a USD20 million claim in an “exceptionally hard-fought” LCIA arbitration. In a detailed Award issued in June 2021, the LCIA Tribunal dismissed claims against the client of AVELLUM, finding fraud and dishonesty on the claimant’s side.

The arbitration is part of a multi-hundred million US Dollars shareholders dispute with parallel litigation proceedings in 6 jurisdictions.

At the final virtual hearing, AVELLUM cross-examined over two dozens of the claimant’s witnesses of fact, whilst the hearing bundles included thousands of documents dating back to late 1990s. 

Kostiantyn Likarchuk, a senior partner, commented: “The Tribunal characterised this arbitration as exceptionally hard-fought with the most serious accusations advanced on both sides. We are pleased to have prevailed in this complicated legal battle, which covered almost all conceivable arbitration-specific topics, including the bifurcation of proceedings, security for costs, disclosure from third parties, forensic examination and claims of legal professional privilege pertaining to evidence, as well as various matters as regards the Tribunal’s jurisdiction. This case is exemplary of justice ultimately prevailing if being fought for with determination.

AVELLUM team in this arbitration was led by senior partner Kostiantyn Likarchuk with significant support from counsel Mykyta Nota, senior associates Mariana Antonovych and Oleksii Maslov, and associate Anna Vlasenko.

Authors

KOSTIANTYN LIKARCHUK

Senior Partner

klikarchuk@avellum.com

MYKYTA NOTA

Partner

mnota@avellum.com

OLEKSII MASLOV

Counsel

omaslov@avellum.com

ANNA VLASENKO

Senior Associate

avlasenko@avellum.com

Posted on August 17, 2021

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