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Khaitan settles $2.9m German v Sesa Goa maritime arbitration

Khaitan & Co along with London-based marine insurance and admiralty specialist Walton & Morse LLP have settled $ 2.9 m dispute between Sesa Goa and a German Shipping conglomerate following an international maritime arbitration.

Khaitan & Co partner Chakrapani Misra along with advocate Suruchi Rungta led the settlement and arbitration proceedings that were initiated after the parties moved the court for relief in various local jurisdictions including the district courts in the United States.

Walton & Morse managing partner David Perry was the partner in charge on this settlement.

The seat of arbitration was London and the laws applicable as per the contract were the English laws.

Khaitan & Co which was responsible for strategy and execution of all court and arbitration proceedings said in a statement: “Multiple proceedings filed in various jurisdictions even before the Reference made to the Arbitral Tribunal, creating lot of complication and paper work.”

“Being a maritime dispute one was required to be well versed with not only the legal but also the technical terms used in the shipping industry. Further the Terms of Reference provided for ad-hoc arbitration with two-member Tribunal, one arbitrator nominated by each party, with English law as the applicable law.”

The alternative dispute resolution method was invoked following an affreightment contract entered into between the parties wherein Sesa Goa had sought to avail chartering services offered by the claimant company.

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