Kazakhstan - Unicase Successfully Acted For The Client In China International Economic And Trade Arbitration Commission.
Legal News & Analysis - Asia Pacific - Kazakhstan - Dispute Resolution
9 April, 2020
Unicase has successfully represented interests of Chinese manufacturer in China International Economic and Trade Arbitration Commission (CIETAC) on a dispute vs large Kazakhstani EPC Company with global presence. The dispute in question concerned the issues of improper fulfilment of contractual obligations by the respondent.
The arbitration was held in Beijing with the English language of arbitration proceedings under the CIETAC Arbitration Rules as of October 1, 2017.
After more than one year of proceedings and several hearings, Aybek Kambaliyev, Senior Associate at Unicase, acting on behalf of the Client achieved a breakthrough in the negotiations with respondent.
As a result, the EPC Company paid the full amount of the debt as well as the penalty fees on a voluntary basis and Chinese manufacturer filed a motion to withdraw the case.
It is worth noting that in practice voluntary payment of the debt excludes the necessity on further enforcement of the arbitral award which leads to additional expenses. Therefore, in some cases it is more convenient to settle the dispute rather than conduct long-lasting proceedings which, inter alia, lead to considerable expenses of both parties.