settlement victory in high-tech industry

Apr 2, 2017

The firm secured a favourable settlement for its European client in a dispute against a Russian counterparty, a leading producer of high-tech equipment.

Over the years the client had supplied high-tech equipment and provided services to the buyer. After receiving goods and services under the contract the buyer stopped paying, which resulted in a multimillion debt. The contract was governed by Swedish law and contained an ICC arbitration clause.

After long futile negotiations with the debtor, the client called upon Mansors to arbitrate the case.

The firm investigated the financial status of the debtor and its subsidiaries, analysed the latest developments in the debtor's business and other disputes to which the debtor was a party. The case was complicated by application of the sanctions regulations to the debtor. The firm therefore had to evaluate the effect of anti-Russia sanctions and associated risks.

Based on gathered intelligence, the firm prepared and implemented a strategy which expedited the settlement talks and forced the debtor to repay the outstanding amounts. The parties entered into a settlement agreement to a complete satisfaction of the client. The result was achieved without initiating a full-fledged arbitration.