Gadens Lawyers has successfully represented a multinational drilling contractor in an arbitration tribunal sitting in London.
The dispute was in relation to work undertaken in Mozambique. It concerned the entitlement to payment of various invoices for work carried out, and “standby time” in circumstances of inclement weather.
The Tribunal awarded the drilling contractor, which cannot be named, the full amount claimed with interest, and the respondent company paid the amount within the timeframe stipulated in the award.
Gadens partner Damian Sturzaker acted on the arbitration. “Because an arbitral award can be enforced in most countries around the world, the respondent company paid the award immediately,” he said.
“This is one of the real advantages of international arbitration.”
He said another advantage was that arbitration allowed the successful party to recover most of its costs. “In this case, our client recovered 100 per cent of its legal costs in addition to internal legal, management and administrative costs. The client is very pleased with the outcome.”
Sturzaker heads the cross border dispute resolution practice group at Gadens Lawyers in Sydney.