The case involved a dispute concerning services performed in a large development and construction project in Ukraine. Two Cypriot companies were involved. They had concluded a contract concerning the management and the supervision of the project containing an ICC arbitration clause. One of the companies went bankrupt and sought the reimbursement of some payments made to the other by starting arbitration proceedings.
The case involved a 2013 contract governed by Swiss law between a New York company and a Swiss company for the construction of a Turkish bath in a Gstaad chalet. As the price of the hammam was substantial – some USD 31 million – the contract provided for payment in various installments and contained an arbitration clause in favour of the Swiss Chambers’ Arbitration Institution rules (Swiss Rules) with venue in Geneva.