WALLESS successfully represented a private individual in arbitration proceedings
WALLESS in cooperation with Lévy Kaufmann-Kohler successfully represented a private individual before the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) in arbitration proceedings initiated on the basis of a damages claim for an amount of 18 million EUR. Action was brought against the client on the basis of “piercing the corporate veil”.
WALLESS assisted and represented the client in drafting submissions on a wide plethora of issues concerning international arbitration proceedings: submissions on interim measure requests, requests for security for costs, submissions on various questions related to jurisdiction and termination of the arbitration proceedings, submissions on the effect of the claimant’s insolvency on the arbitration proceedings, responses to a challenge of arbitrators, submissions concerning claimant’s third party funding and bifurcation of separate jurisdictional issues, etc., as well as represented the client in oral hearings held by the arbitral tribunal.
WALLESS successfully defended the client’s interests by proving that the client has been wrongly involved in the arbitration proceedings with the claimant’s erratic attempt to persuade the arbitral tribunal to apply the doctrine of “piercing the corporate veil”, contrary to the doctrine of separate liability of the company’s shareholders enshrined in the Latvian Commercial law (Latvian law being the applicable law in the proceedings). The Arbitral Tribunal upheld argumentation provided by WALLESS and issued a separate decision, finding it has no jurisdiction over the client and thus dismissing the claimant’s request for joinder.