Aceris Law has helped to obtain another positive outcome for another client in a complex arbitration involving significant claims, with the rendering of a Final Award on 30 August 2018 following two years of arbitration proceedings under the LCIA arbitration rules.
The dispute, which had its seat in London, was rendered under the substantive and procedural laws of Saudi Arabia, meaning that the parties’ contract, the statutory laws of Saudi Arabia and general rules of Sharia contractual law were applicable.
The dispute concerned claims by Aceris’ client, a Saudi sub-contractor and the claimant, for delay and disruption, an extension of time and prolongation costs, additional payments that were owed as entitlements and a claim for wrongful termination of contract, inter alia, in relation to a major construction project in Saudi Arabia. The respondent’s counterclaims included a claim for liquidated damages, a claim for the repayment of indirect costs and a claim for the repayment of backcharges.
In the 216-page Final Award, the claimant succeeded on the majority of its claims, with the three-member arbitral tribunal stating that Aceris’ client was the “the successful party” and compensating the claimant for the majority of the legal costs of its claims. The arbitral tribunal also noted the reasonable nature of Aceris’ legal fees, indicating, “As regards the reasonableness of the Claimant’s legal fees, we find that the amount of legal fees of Aceris LLP is, indeed, very reasonable, in light of the complexity, duration and the considerable value of the claims and counterclaims of this Arbitration.”
William Kirtley, Nina Jankovic, Katarina Grga and Andrian Beregoi primarily served as counsel in the arbitration. This was the third arbitration involving Saudi Arabia in which Aceris has served as lead counsel over the past two years, the other two of which were also successful.
“We are always pleased when Aceris helps to obtain a positive outcome for a client in a hard-fought case,” said William Kirtley, the principal of Aceris Law. “While clients deserve significant credit for ensuring that a complex case is a success, this case is another good example of Aceris providing unbeatable value in the field of international arbitration.”