Dzungsrt & Associates LLC, acting as co-counsel, successfully represented our client in a USD100 million VIAC arbitration. The case was in relation to the construction of a supertall skyscraper in Vietnam.
The Claimant – Contractor, initiated the arbitration against our client – the Employer for outstanding payment and interests. The dispute was very interesting because it involved complicated issues of not only construction law but also of corporate governance, related party transaction, project finance and transfer pricing regulation.
The proceedings took nearly two years to conclude. This year, an award was rendered in favor of our client. Around 94% of the Contractor’s claim was rejected and our client was also entitled to recover the costs they incurred in pursuing this arbitration.
Dzungsrt & Associates LLC would like to send our warmest regards to our client, our co-counsel, the Tribunal and all others who participated in this arbitration.