Our arbitration team successfully represented the interests of OJSC “MMW named after S.I. Vavilov – the managing company of BelOMO holding” (BelOMO), a leading Belarusian enterprise specialising in optomechanical and optoelectronic equipment at the International Court of Arbitration of the International Chamber of Commerce (ICC).
Due to non-payment by a foreign buyer for goods delivered and refusal by BelOMO’s insurers TASK CJSC to pay the insurance indemnity due in connection with non-payment, BelOMO was forced to launch arbitration proceedings at the ICC. Thanks to application of the Expedited Procedure Rules, smart procedural tactics and effective cooperation with the legal department of BelOMO, we were able to achieve a positive arbitral award in a very short term for international arbitration proceedings, despite the COVID-19 pandemic and unprecedented quarantine measures in France.
A Request for Arbitration was submitted to the ICC on August 1, 2019, and on May 11, 2020 an arbitral award was rendered, obliging the unconscionable buyer to pay the price of the goods delivered plus a contractual penalty plus the costs of arbitration, including legal costs, with interest on each of these amounts until actual payment in full.