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Successful litigation project in Swiss court on corporate matters

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Successful litigation project in Swiss court on corporate matters

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 Nadmitov, Ivanov and Partners Law Firm altogether with a partner Swiss law firm represented the interest of a Cyprus company, the defendant, in Swiss courts. The case concerned contesting the contract of buying and selling shares.

The Buyer was gaining control over a machine-building enterprise. The terms of the contract provided for phase payment. After transferring part of the price, the buyer suspended other payments because significant defects in the subject of purchase were found, namely defects connected to the efficiency of the plant. The buyer made a claim to contest the contract on the grounds of fraudulent misrepresentation because unreliable information about the plant was provided to him and he was also given false assurances and guarantees by the seller. The seller filled two lawsuits in a Swiss court claiming part of the price which had to be transferred to him. When our law firm became part of the litigation process, the court had already granted the first claim on recovery of the unpaid sum. We appealed the decision, and the court’s decision was reversed on the grounds of improper notification of the defendant. The litigation lasted for four years; as a result the court denied all of the claimant’s (the seller) claims and recovered the full sum of court expenses in favor of our client.

This case was a complex one. Large amount of evidence had to be presented to the court and assessed by it. In particular, such issues as the difference between a share deal and an asset deal were covered, as well as the possibility to apply the regulatory norms on the defective product to share deals. The information about the plant, the assurances and guarantees provided by the seller, as well as the obligation of the buyer to inspect the product at issue before signing the contract of sale, had to be analyzed.

Nadmitov, Ivanov and Partners Law Firm represents their clients’ interests on complex corporate matters in Russian and foreign courts on a regular basis. We also regularly represent our clients’ interests in the courts and arbitration tribunals in Switzerland.

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