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Bird & Bird Wins Judgment from English Court for Carpatsky Petroleum Corporation in Dispute with PJSC Ukrnafta

Bird & Bird Wins Judgment from English Court for Carpatsky Petroleum Corporation in Dispute with PJSC Ukrnafta

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Bird & Bird has won a USD 149 million judgment from the English Commercial Court for Carpatsky Petroleum Corporation, a subsidiary of Kuwait Energy, in a dispute with PJSC Ukrnafta arising out of a joint activity agreement relating to gas fields in Ukraine.

According to Bird & Bird, the firm “sought to enforce an arbitral award from Stockholm under the New York Convention in London. Ukrnafta claimed that the award was invalid claiming fraud, issue estoppel, varying governing laws, the invalidity of the arbitration agreement, and non-existent parties to agreements. The claims led to a full retrial of all issues raised in the arbitration and experts in Ukrainian civil and criminal law, Delaware law, and Swedish law were required. The case has provided good guidance from the English Commercial Court on issue estoppel and the inability of parties to swap and change governing laws between different courts.”

"This has been a hard-fought legally technical dispute which has lasted over three years,” stated Sophie Eyre, Partner and Co-Head of Bird & Bird's London Dispute Resolution Practice, who led the firm's team on the case. “Our London Dispute Resolution team has proudly represented CPC throughout the process and ultimately, the English Commercial Court came to the right conclusion."

Eyre was assisted by Bird & Bird Associate Simona Peter.

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AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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