ICC CONSENT AWARD between GUERNSEY, MALTESE and ISLE OF MAN ENTITIES
LLB took over as counsel an ICC procedure initiated in 2015 by representing a Guernsey entity owned by a UK national. In those proceedings, the Guernsey company claimed that an Isle of Man and Maltese entity had been used by the a new Zealand national and legal entities owned and/or controlled by him to fraudulently induced the Guernsey entity (and the UK national) to invest over 20 million EUR in a shopping centre development in Burgas, Bulgaria, Prior to joining LLB, Michael McNutt acted as personal advisor to the UK national as well as the Guernsey entity working extensively with local counsel in the Isle of Man, Delaware (USA), Brazil, Bulgaria, and Ireland in parallel related proceedings.
Subsequently, LLB assisted local counsel in those parallel proceedings and LLB initiated a second ICC arbitration proceeding against the New Zealand national and a related entity. LLB successfully negotiated and obtained an ICC Award by Consent on behalf of the parties to the first ICC proceeding in 2021 with damages of approx. 20 million Euros.