TGS Baltic team successfully represented UAB Versina in an arbitration dispute with Atzwanger S.P.A.

16.10.2018 TGS Baltic team successfully represented UAB Versina in an arbitration dispute with Atzwanger S.P.A.

TGS Baltic team successfully represented one of the largest construction services companies in Lithuania UAB Versina in arbitration proceedings under the Rules of Arbitration of the Vilnius Court of Commercial Arbitration in disputes with the Italian subcontractor Atzwanger S.P.A. regarding additional costs incurred by the latter.

In two separate cases initiated by the subcontractor, Atzwanger demanded UAB Versina to pay in total more than EUR 650,000. In both cases the Arbitral Tribunals satisfied Atzwanger’s claims in part but the damages that were ordered to pay comprised around 5 per cent of all Atzwanger’s monetary claims. Although Atzwanger S.P.A. requested the court to annul adopted arbitral awards, Atzwanger’s requests were dismissed.