Eterna Law has successfully represented the Belgian energy company in a dispute with the Ukrainian bioethanol producer, which arose due to the latter’s violation of the respective shipment contract. The dispute included the ICC arbitration (Paris) and enforcement of the respective arbitral award in Ukraine.
Eterna Law’s lawyers prepared a persuasive argumentation and successfully represented the client in the oral hearings. As a result, the arbitral tribunal satisfied the client’s claims in full. During the recognition and enforcement of the arbitral award in Ukraine, Eterna Law’s team faced fierce opposition from the debtor but managed to persuade the Ukrainian Supreme Court to render a judgement in favour of the client. By this decision, the Supreme Court has finally established a pro-arbitration court practice of interpreting the wording of the operative part of arbitral awards, which has been debated for more than 20 years.
During the process of the recognition of the arbitral award in Ukraine, Eterna Law’s team faced challenges caused by the cross-border payments and foreign currency restrictions, which were introduced by the Ukrainian central bank during wartime and have significantly complicated the effective enforcement of the arbitral award and payment of the awarded sum by the debtor to the client, a resident of Belgium. However, the team managed to find a solution and grant the payment of the whole sum to the client’s foreign bank account.
Mykhailo Korchynskyy, Associate, Viktor Pasichnyk, Junior Associate and Illia Ivanusa, Junior Associate, worked on the project under the guidance of Eugene Blinov, Partner and Head of the International Arbitration.
