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Ilyashev & Partners Successfully Protected the Interests of a Major Chinese Machinery Manufacturer

News date: 11 April 2019

The international arbitration team of Ilyashev & Partners Law Firm have successfully protected the interests of J.S. Corrugating Machinery Co. Ltd, one of the largest China-based machinery manufacturers, in a matter relating to debt recovery under an equipment supply contract.

The Kyiv Court of Appeal granted the application filed by the firm’s lawyers and allowed the recognition and enforcement in Ukraine of an arbitration award published by the China International Economic and Trade Arbitration Commission (CIETAC) for the payment by a Ukrainian company of a principle debt of USD 5 mln and arbitration costs in favor of J.S. Corrugating Machinery Co. Ltd.

“The court recognized the arbitral award and granted permission for its enforcement, — said Roman Marchenko, the Senior Partner at Ilyashev & Partners. — Our next step in this matter will involve actual collection of funds from the debtor within the framework of enforcement proceedings”.

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).