Aceris Law has assisted another client in obtaining the successful resolution of an ICC arbitration.
The ICC arbitration, against a subsidiary of a Fortune 500 steel and mining company, was subject to Liberian law, a common law jurisdiction influenced by American law and the law of other common law jurisdictions.
The dispute concerned a service contract regarding a construction project in Liberia, with claims brought by Aceris’ client, a sub-contractor, for abusive termination of contract and a failure to make payments owed. The opposing party raised counterclaims for alleged contractual violations. Due to the relevant statute of limitations, the dispute needed to be initiated in a short time frame. The place of arbitration was London and the language of the arbitration was English.
Settlement negotiations lasted for a period of six months and ended with a positive outcome for Aceris’ client, the claimant, while avoiding costly arbitration proceedings for both Parties.