News date: 3 July 2020
Kyiv Court of Appeal granted the application of the firm’s attorneys for the recognition and enforcement in Ukraine of the arbitral award of China International Economic and Trade Arbitration Commission (CIETAC, Shanghai) issued against SOUTH CARDBOARD LLC for the recovery of debt in the amount of USD 5 mln, plus interest and arbitration fees, in favor of J.S. Corrugating Machinery Co., Ltd.
The debt arose as a result of breaching by the Ukrainian company of its obligations under the equipment supply contract.
Ilyashev & Partners Law Firm represented the interests of J.S. Corrugating Machinery Co., Ltd in Kyiv Court of Appeal. The legal support under the project was rendered by attorneys at law Andrey Bychkov, Oleksandr Denysenko and lawyer Oleh Kulyk under the supervision of Senior Partner Roman Marchenko.
This is the second CIETAC arbitral award that Ilyashev & Partners has managed to have successfully recognized for this client in Ukraine. In 2019, an arbitral award issued in favor of this client in Shenzhen in connection with the debt of another Ukrainian company was recognized in Ukraine. In that case, the Supreme Court upheld the Ruling of Kyiv Court of Appeal for the recognition and enforcement of the award.
J.S. Corrugating Machinery Co., Ltd is one of the largest China-based manufacturers of packaging machines. The company has 27 sales offices, 18 branches and 38 service stations worldwide, including its subsidiaries in Istanbul, Moscow, New Delhi and Ho Chi Minh City. The company’s products are ISO9001 and CE-certified (acronym for the French Conformité Européenne).