Shearman & Sterling Secures Victory in ICC Arbitration for One of Korea's Largest Construction Companies
4 Jun 2009
John Savage, Yu-Jin Tay, Simon P. Dunbar, Daryl Chew

Shearman & Sterling has successfully defended one of Korea's largest construction companies as respondent in an ICC arbitration in Seoul against claims brought by a European contractor under service agreements regarding a port project. The claimant was seeking to recover approximately US$30 million in Korean taxes and penalties assessed against it in connection with work performed under those agreements. In a final award rendered on May 26, 2009, a three-member tribunal dismissed all of the claimant's claims and awarded Shearman & Sterling's client 100% of its legal fees, arbitration costs and internal costs.

The Shearman & Sterling team included partner John Savage (Washington,DC/Singapore-International Arbitration), counsel Yu-Jin Tay (Singapore-International Arbitration), and associates Simon Dunbar (Singapore-International Arbitration) and Daryl Chew (Singapore-International Arbitration).