Duan & Duan Won the Insigma Arbitration Case and Successfully Avoided over USD 30 million Losses for Client
In March 2013, our firm received the invitation from Insigma Technology Co., Ltd. (“Insigma”) to be present at its celebration dinner for winning the case of recognition and enforcement of arbitral award initiated by Alstom Technology Ltd. (“Alstom”).
In the arbitration between Insigma and Alstom, an arbitral tribunal confirmed by the Singapore International Arbitration Centre made arbitral awards which were extremely unfavorable to Insigma, and Insigma was ordered to pay to Alstom a huge amount of compensation, which is over USD 30 millioin. After Alstom applied to the Hangzhou Municipal Intermediate People’s Court of Zhejiang Province (“Hangzhou Court”) for the recognition and enforcement of the said arbitral awards at the end of 2011, Insigma retained Duan & Duan to represent it in this case. Our firm’s working team consisting of partners Charles Duan, Steven Gong and Jason Ju made thorough study on the case and attended several court hearings on behalf of Insigma, and finally won the case for Insigma. By the end of February 2013, with a an approval from the Supreme People’s Court, Hangzhou Court made the decision to dismiss Alstom’s application and rejected to recognize and enforce the arbitral awards made by the arbitral tribunal of the Singapore International Arbitration Centre. Therefore, Insigma has avoided the payment of over 30 million US dollars of compensation.