News | Commercial Litigation
Thursday 29th November 2007
Today, Thursday 29 November, in Hamilton, Bermuda, the High court validated a master settlement agreement between IPOC International Growth Fund Limited and LV Finance Group Limited and others, which finally brings to an end a series of global litigations and arbitrations which have taken place over the last four years. SJ Berwin LLP acted on behalf of LV Finance Group Limited. The drop-hands settlement ends a dispute worth over USD 2 billion involving arbitrations in Zurich and Geneva and related actions in Bermuda, the British Virgin Islands, and other jurisdictions. The actions started in September 2003 and has attracted substantial international press attention.
The settlement agreement required Court approval, which was obtained this morning from Justice Ian Kawaley. SJ Berwin partner Justin Michaelson acting on behalf of LV Finance Group Limited said: "This represents a terrific result for LVFG and is a vindication of our client's position in response to all IPOCs claims" Also acting on behalf on LVFG were Jeffrey Elkinson of Conyers Dill and Pearman and Dr Balz Gross of Homburger Rechtsanwälte.Justin Michaelson, Partner, on + 44 (0)20 7111 2201 or by emailing justin.michaelson@sjberwin.com
Helen MacRae, Business Development Manager, on +44 (0)20 7111 2903 or by emailing helen.macrae@sjberwin.com
Notes to Editors:
Our approach has resulted in the firm winning a number of recent awards including UK Firm of the Year at the Global Chambers Awards 2007.
About the International Arbitration Group The international arbitration group has a wealth of experience in resolving disputes (both advocating for clients and sitting as arbitrators) throughout the world's leading arbitration institutions and in "ad hoc" international commercial arbitrations and acts for both commercial concerns, governments and government agencies. Within the group (and drawing on SJ Berwin's other specialist groups) we have wide industry experience in a number of sectors, such as Finance and Financial Markets; International Trade; Telecommunications; Satellites; Construction and Project Finance; Information Technology; Pharmaceuticals; Energy; Film and Media. In addition to our core practice in international commercial disputes, we have specialists and experience in Intellectual Property; EU & Competition Law; Engineering and Construction; International Boundary Disputes; and Trade and Customs cases. Justin Michaelson has considerable experience in major international commercial disputes and has appeared before many international commercial arbitral tribunals both institutional and ad hoc in disputes covering a wide variety of jurisdictions, and sectors, including oil and gas, metals (in particular aluminium), telecoms and major projects. He is recommended for International Arbitration in Legal 500.
About the Commercial Litigation and Dispute Resolution Department The commercial litigation and dispute resolution department has 16 partners, 4 consultants and over 40 fee earners, all based in London. In addition we have specialist departments for competition, construction litigation, property litigation and employment. We have extensive experience in litigating not only in England but also worldwide and have a reputation for acting in highly complex, multi-jurisdictional disputes. In addition to High Court litigation we have market reputations in International Arbitration, Mediation, Fraud and Financial Markets Litigation, with leading individual names in each area. We see our skills primarily as ‘problem solvers’. Typically, we are closely involved with our clients in steering them clear of litigation where possible and deploying our litigation skills when there is no better solution to help the clients achieve their business objectives.
We were nominated for the Dispute Resolution Team of the Year 2006 Award by Legal Business and most recently won the CEDR Award for Excellence in the Professional category. On 1 June 2005 SJ Berwin became SJ Berwin LLP, a limited liability partnership www.sjberwin.com <http://www.sjberwin.com/> SJ Berwin LLP or an affiliated undertaking has an office in Berlin, Brussels, Frankfurt, London, Madrid, Milan, Munich, Paris and Turin.
We were nominated for the Dispute Resolution Team of the Year 2006 Award by Legal Business and most recently won the CEDR Award for Excellence in the Professional category. On 1 June 2005 SJ Berwin became SJ Berwin LLP, a limited liability partnership www.sjberwin.com <http://www.sjberwin.com/> SJ Berwin LLP or an affiliated undertaking has an office in Berlin, Brussels, Frankfurt, London, Madrid, Milan, Munich, Paris and Turin.
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