Interim Arbitration Victory: Safeguarding Contractual Rights in €2 Million Larnaca Project

Our law firm has been engaged to represent a construction company in an arbitration dispute against a property owner concerning a luxury residential project in Larnaca valued at €2 million.  

Our client is pursuing compensation claims related to the project. Today, the arbitration tribunal issued an interim decision, dismissing the owner’s application, which argued that our client’s initiation of arbitration violated Clause 36 of Contract E2a (without quantities) and was outside the permissible timeframe under the contract and/or applicable law.  

This decision is a significant step in securing our client’s contractual rights, as the tribunal rejected the respondent’s statute of limitations argument. We remain dedicated to advocating for our client’s interests and will continue to provide unwavering support as the case progresses. This interim victory underscores the importance of enforcing contractual terms and safeguarding our client’s right to claim the compensation owed.