Founding Attorney
Transnational Matters PLLC is pleased to announce a successful outcome in a complex international arbitration administered by the International Chamber of Commerce (ICC), further reinforcing the firm’s strength in handling high-stakes cross-border disputes. The arbitration, conducted under ICC Case No. 29080/XZG, involved parties from the United States and the United Kingdom and was resolved through the ICC’s expedited procedure framework. The ICC Tribunal rendered its Final Award on January 20, 2026, bringing the dispute to a definitive and binding conclusion.
The case involved a sophisticated cross-border transaction centered on a Standby Letter of Credit (SBLC) arrangement and required navigating contractual breaches, evidentiary challenges, and competing legal theories including breach of contract, fraudulent misrepresentation, and unjust enrichment. After a full review of the factual record and submissions, the Tribunal ultimately found that although breach of contract damages were not established, the respondent had been unjustly enriched and ordered restitution accordingly.
Davy Karkason, Esq., served as first chair in the arbitration, leading the strategy, advocacy, and execution of the case from inception through final award. His leadership ensured a precise and disciplined legal approach, successfully advancing alternative legal theories that ultimately secured recovery. This outcome highlights the importance of strategic claim structuring in international arbitration, particularly where primary claims may face evidentiary limitations.
In its dispositive order, the Tribunal awarded USD $530,969.15 in unjust enrichment damages, plus interest at 8.107% per annum under Hong Kong law from the relevant date until full payment. In addition, the Tribunal ordered the respondent to pay USD $29,883.96 in legal costs and fees, as well as the full ICC arbitration costs of USD $53,600, resulting in a total financial recovery exceeding USD $614,000 plus accruing interest.
This result underscores the effectiveness of ICC arbitration as a mechanism for resolving complex international disputes, offering finality, enforceability under the New York Convention, and a neutral forum for cross-border conflicts. It also demonstrates the importance of experienced counsel capable of adapting legal theories and maximizing recovery through alternative claims when traditional breach arguments alone may not suffice.
Transnational Matters PLLC continues to represent clients globally in ICC, ICSID, ICDR, and LCIA arbitrations, delivering strategic, results-driven advocacy in international commercial and investment disputes.