We successfully represented a Finnish manufacturing company in arbitration proceedings under the SCC rules against a global construction company. The dispute was governed by Finnish law and the seat of arbitration was Stockholm, Sweden.
The dispute mainly concerned the termination of an erection contract and the right to compensation for delays of the project and for cost increases due to Russia’s invasion of Ukraine. The main questions in dispute were the lawfulness of the termination of the erection contract as well as the consequences of the termination such as the right to costs to complete the project after termination, the right to liquidated damages for delay of the project and adjustment of contract price due to cost increases.
The total value of the dispute exceeded EUR 15 million.
