ENGARDE succeed in arbitration under the rules of the Stockholm Chamber of Commerce

The team of ENGARDE’s associates has successfully represented a leading Ukrainian gas production company in an arbitration dispute with its Russian counterparty.

The dispute between ENGARDE’s client and its contractor (engaged in the exploration and drilling of oil and gas wells on the sea shelf) concerned performance of the underlying drilling contract under conditions of force majeure caused by the annexation of Ukraine’s Crimean peninsula by the Russian Federation.

ENGARDE’s associates have represented the client both in the arbitration proceedings and in the amicable settlement negotiations. The negotiations resulted in signing a settlement agreement. The tribunal rendered its award on the terms agreed upon by the parties.