Petrochemical Client Successfully Resolves International “Bet-the-Venture” Arbitration
Shipley Snell represented an international petrochemical company in a complex international commercial arbitration conducted under the CPR Institute for Dispute Resolution Rules for Non-Administered Arbitration of Business Disputes.
The arbitration involved a long-term joint venture with two other multinational petrochemical companies. The arbitration – between three sophisticated international companies – involved several intricate and interrelated contracts and loan agreements. More than $100 million and the future of the joint venture were at issue in the dispute, which implicated significant business issues and relationships between the parties. Shipley Snell’s team collaborated with its client to develop a detailed understanding of the contracts and the operations of the joint venture. This work allowed Shipley Snell and its client to achieve a successful resolution that addressed the client’s ongoing business needs.
After the close of the settlement, Shipley Snell assisted its client with structuring a new partnership. Shipley Snell and its client staffed the arbitration efficiently, using only three lawyers to handle almost all of the high-volume work.