International Arbitration team of LCF Law Group successfully represented the Client, one of the largest producers of beverages and snacks in Ukraine, in the LCIA (London Court of International Arbitration).
Despite the long-standing business relationship between the companies, after the start of russia's full-scale invasion of Ukraine, the Client's foreign counterparty refused to pay for the goods already delivered, justifying this by a significant deterioration in its financial position and the complication of the payment process to a Ukrainian resident in the context of martial law in the country.
Repeated attempts to resolve the dispute through negotiations proved to be unsuccessful. The situation was further complicated for the Client by the possibility of a penalty for violation of the terms of payment for export transactions. Therefore, to protect the Client's interests, LCF initiated arbitration proceedings at the LCIA on its behalf.
After six months of arbitration proceedings at the LCIA, our Client's claims were satisfied: LCIA awarded in its favour the full amount of the principal debt for the delivered goods, penalties, as well as arbitration and legal fees.
LCF's international arbitration team working on the case included Yuliya Atamanova, Partner and Head of the practice, and Associates Polina Bitiuk and Dmytro Kaba.
