Squire Patton Boggs has secured a significant victory for investment company Kleros Capital Partners Limited in an arbitration against Tata Power, with a tribunal ordering Tata to pay $490.32 million in damages as well as interest and legal costs under Singapore International Arbitration Centre (SIAC) rules.
The dispute arose from claims made by Kleros that Tata Power breached confidentiality and non-circumvention clauses related to a potential coal mining partnership in Russia.
The Squire Patton Boggs team was led by partner Barry Stimpson, assisted by Christopher Bloch, Angela Yap and Henry Spence.