Once again Ashid Advocates LLP’s outstanding lawyers have used their valuable skills and excellent knowledge to won one of our biggest case in arbitration case at Mongolian International and National Arbitration Center (MINAC).
Our client, the Claimant signed the EPCM Contract with the Respondent, one of giant coal mining corporations whose stocks are listed at the Mongolian stock exchange, for the construction of coal washing plant located in northwestern part of Mongolia. The Contract Price was agreed among the Parties as on a schedule of rates /cost-reimbursable/. The Claimant successfully completed the scope of works under the EPCM Contract, therefore commissioned and handed over to the Respondent in 2014. However, the Respondent defaulted the payment obligations as set forth in Schedules.
Ashid Advocates LLP’s team, on behalf of our client, filed an arbitration case in February 2016 in claiming of large amounts of outstanding contractual payments from the Respondent. The Tribunal is consisted of three arbitrators. The Arbitration hearing took place on 20 September 2016 at the MINAC office in Ulaanbaatar, Mongolia. The Arbitration proceedings and document deliveries were made in Mongolian language.
With our team of lawyers’ industry expertise knowledge, experiences and skills, Ashid Advocates LLP’s team successfully persuaded the Tribunal the basis of contractual claim and other evidences, and as a consequence the Tribunal has awarded the Claimant, our client, the full initially claimed amounts by declining to accept the Respondent’s arguments and undocumented evidences, which is big victory for our client and Ashid Advocates LLP’s team of lawyers having the award with 100 percent full amount.
Our commercial and investment arbitration team advises, and represents clients in all aspects of the arbitration process, from progressive negotiations and formal proceedings, to the conduct of the arbitration preliminary (pre-hearing) and full hearing and judicial proceedings related to the enforcement of interim and final compensations and awards. As arbitration specialized researchers, we work hard to stay abreast of and contribute to important developments in arbitration.