The law firm Skrastiņš & Dzenis, in cooperation with its Lithuanian colleagues from Motieka & Audzevičius, represented a client before the German Arbitration Institute (Deutsche Institution für Schiedsgerichtsbarkeit, DIS) in dispute concerning construction development in Germany.
The arbitration proceedings concerned a claim filed by a Cyprus-based company against a German construction entrepreneur in relation to investments amounting to EUR 2 000 000 in the construction development in Saarbrücken.
The case was heard by an arbitral tribunal commenced under German Arbitration Institute. The hearings took place in Riga, where our team, together with our Lithuanian colleagues, represented the client in extensive arbitration hearings.
The arguments presented by our representatives addressed, inter alia, the validity of the investment agreement and the arbitration clause, the applicability of mandatory EU law provisions, and the regulation of statutory limitation periods in commercial transactions.
The arbitral award is expected to be rendered within three months.
