Important arbitration victory for major European industrial solutions provider
Lenz & Staehelin successfully represented a major European contractor as claimant in a USD 67.3 million ICC arbitration relating to the construction of a fertilizer plant in Turkey. In the final award, the arbitral tribunal confirmed take-over of the plant and granted all monetary claims raised by our client (with the exception of a reduction of a damages claim raised for a side-aspect) while dismissing all of respondent's various counterclaims. 90% of the costs were awarded to our client.
The Lenz & Staehelin team included partner Harold Frey and counsel Martin Aebi (both Litigation and Arbitration).