JPM has secured huge victory for the Lithuanian client Alita in an eight-year battle over a EUR 68 million against Privatization Agency. JPM has succeeded in setting aside of the Foreign Trade Arbitration Award before the Supreme Court of Cassation on the grounds of an arbitrator’s non-disclosure as well as arbitration agreement not being valid. The Court dismissed defendant’s suggestion that award was reached by majority of arbiters as well as objections to piercing of corporate veil.
The lead counsel for Alita was JPM’s dispute resolution partner Mr. Djordje Novcic.