The Moscow office of Eterna Law has successfully acted for European insurance company Credimundi NVSA — a member of the Credendo group — in a dispute involving Credimundi’s claim for subrogation by JSC Southern Kuzbass Coal Company on an insurance payment related to non-payment of an amount due for the supply of goods.
In the case, Eterna Law reports, the firm succeeded in avoiding a contractual arbitration clause referring to the arbitration court in London and instead had the matter heard in the first instance court of the Russian state (the Arbitration Court of the Kemerovo region).
According to Eterna Law, during the trial, the firm "achieved a recovery in addition to the principal amount and the penalty set by the contract, and interest for late payment, increasing the amount of initial claims by nearly of USD 140,000. The demands for USD 987,550.26 are fully satisfied."
The Eterna Law team consisted of Senior Associate Natalia Konovalova and Junior Associate Dmitry Ryzhenkov.