Shareholders of a large Spanish construction company win in an ICC arbitration brought by a Turkish counterparty

The Swiss Federal Tribunal has dismissed an appeal lodged by a Turkish joint venture partner against an ICC award rendered in proceedings brought by the Turkish joint venture partner against its Spanish joint venture partner and the latter’s three main shareholders represented by Niederer Kraft Frey.

In the ICC arbitration, NKF had successfully represented the three main shareholders of the Spanish joint venture partner, whereby claims brought against them in the amount of EUR 57 million were dismissed in their entirety.

The NKF team was led by Dispute Resolution partner Tamir Livschitz, working with senior associate Lukas Beeler.