LONDON — Kilpatrick Stockton announced today that the firm’s Litigation Practice Group successfully defended a $16 million arbitration award on behalf of US-based Russo International Venture, Inc. and MGM Productions Group, Inc. against Aeroflot Russian Airlines.
In 2002, an Arbitral Tribunal formed under the Rules of the Stockholm Chambers of Commerce awarded $16 million to Russo International Venture, Inc. (headquartered in New York City) due to Aeroflot’s breach of a consultancy agreement relating to the sale and leasing of Russian aircraft to Iran. Aeroflot immediately requested that the arbitration award be set aside. Recently, the firm received a final judgment from the Svea Court of Appeals in Stockholm dismissing Aeroflot’s request and ordering the airline to pay costs of $160,000.
Partner Per Runeland led the London and Stockholm-based Kilpatrick Stockton team consisting of Jörgen Eklund and Rickard Samuelsson.
About Kilpatrick Stockton
Kilpatrick Stockton LLP is a full-service international law firm with more than 470 attorneys in nine offices in the United States and Europe: London; Stockholm; New York, N.Y., Atlanta and Augusta, GA.; Charlotte, Raleigh and Winston-Salem, N.C.; and Washington, D.C. Kilpatrick Stockton’s delivery of innovative business solutions provides results-oriented counsel for corporations, from the challenging demands of financial transactions and securities to the disciplines of intellectual property management. Collaboration among Kilpatrick Stockton’s corporate, litigation and intellectual property attorneys provides knowledgeable and proactive guidance for companies at every stage of the business life cycle. For more, go to www.kilpatrickstockton.com