BIG ARBITRATION WIN FOR OUR CLIENT
BSP has successfully defended an institutional client from the Republic of Moldova against an arbitration claim of EUR 1,2 million.
The claim was brought by a construction consortium based on a World Bank-financed works agreement (based on FIDIC Green-Book). The arbitration claim was examined by a tribunal formed at the Court of International Commercial Arbitration of the Chamber of Commerce and Industry of the Republic of Moldova. The arbitral tribunal rejected 68% of the claims awarding the Claimant consortium a sum of EUR 400 k.
In a subsequent set-aside procedure, initiated by BSP at the request of the Client, the award was set aside by the Chișinău Court of Appeal. The Court has found that the arbitral tribunal lacked competence and breached the res judicata principle and other fundamental principles of law (procedural violations).
The Client’s defence team was led by Andrei Bivol, founding partner, assisted by junior associates Anișoara Tun and Svetlana Bratescu.