Global law firm DLA Piper has successfully co-represented the Hellenic Republic before the International Court of Arbitration of the International Chamber of Commerce (ICC) in its case against a group of maritime organisations HSY SA, ADM LLC, TKMS GmbH, TKMS Industrial Solutions AG, Privinvest Holding SAL, Privinvest Shipbuilding SAL Holding, 2. Hὃrn- Beteiligungs GmbH.
The ICC tribunal, seated in Athens, unanimously awarded more than EUR150 million in damages in favour of the Hellenic Republic, along with interest and legal costs.
This hearing concludes the long-standing arbitration matter which commenced in 2014. The dispute related to two contracts signed between the parties in 2000 and 2002 for the construction of four Class 214 submarines and the modernisation of Class 209 submarines which were eventually constructed by the Hellenic Republic Navy’s personnel working closely with HSY SA’s employees.
The DLA Piper team was led by senior lead lawyer, Eirini Roussou, Litigation & Regulatory, Brussels under the supervision of Orestis Omran (partner, Litigation and Regulatory, Brussels, and head of the firm’s Greece Country Group).
Orestis commented: “This win showcases our significant strength in both contentious and non-contentious matters across sectors and further establishes DLA Piper as one of top international law firms for litigation, regulatory and transactional international legal work in Greece and Cyprus.”