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25 July 2012

Sayenko Kharenko asserted the ICAC award in the setting aside proceedings

Sayenko Kharenko’s international arbitration counsel Olena Perepelynska successfully represented the interests of the Ukrainian manufacturer of medical packaging Ukrmedpak LLC in the court proceeding on setting aside of the arbitral award of the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry (ICAC). Respective ruling rejecting the application of the Turkish debtor Vatan Makina Sanayi ve Ticaret. A.S. for setting aside of the above mentioned award was rendered by the Shevchenkivsky District Court of the City of Kyiv on 18 July 2012.

Within the proceedings the court examined whether the composition of the arbitration tribunal and the arbitration procedure was in accordance with the agreement of the parties.

The dispute between the parties arose out of the sale and purchase agreement for aluminum caps due to the low quality of the delivered goods and the subsequent elimination of the defects.

Earlier this year the arbitral tribunal obliged the Turkish supplier to compensate in full all expenses incurred by the Ukrainian buyer in connection with elimination of the defects of the goods and to pay the penalty.

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