Virtus Law LLP, the Singapore member of Stephenson Harwood (Singapore) Alliance, has successfully resisted a challenge to an arbitration award which awarded its clients a total sum of US$149 million plus interest. The Award, which had been made under the 1998 Rules of Arbitration of the ICC and issued by a panel of 3 distinguished international arbitrators, unanimously found that Jaguar, the claimants in the arbitration proceedings, were entitled to be paid damages as a result of default under an EPC Contract to build a power generation plant located in Guatemala by the contractor, China Machine New Energy Corporation.
Singapore Court Rejects Challenge To ICC Award
