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TRANSNATIONAL MATTERS PLLC SECURES MAJOR VICTORY IN ICC INTERNATIONAL ARBITRATION EXCEEDING $614,000
Miami, Florida , May 13, 2026 (GLOBE NEWSWIRE) -- 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 matter arose from a sophisticated international transaction centered on a Standby Letter of Credit (SBLC) arrangement and involved complex issues relating to contractual obligations, evidentiary disputes, and competing legal theories, including breach of contract, fraudulent misrepresentation, and unjust enrichment.
Following extensive submissions and a detailed review of the evidentiary record, the Tribunal concluded that while breach of contract damages had not been sufficiently established, the respondent had nevertheless been unjustly enriched and was therefore required to provide restitution.
Davy Karkason, Esq., serving as first chair in the arbitration, led the strategic direction, advocacy, and execution of the case from inception through final award. His approach emphasized the advancement of alternative legal theories that ultimately secured substantial recovery for the client despite challenges associated with proving traditional contract damages.
“International arbitration requires adaptability, precision, and strategic claim structuring,” said Davy Karkason, Esq. “This result demonstrates the importance of pursuing alternative legal remedies when primary claims face evidentiary hurdles. We are proud to have secured a meaningful recovery for our client in a highly complex cross-border dispute.”
In its dispositive order, the Tribunal awarded:
- USD $530,969.15 in unjust enrichment damages;
- Interest at 8.107% per annum under Hong Kong law from the applicable date until full payment;
- USD $29,883.96 in legal fees and costs; and
- The full ICC arbitration costs of USD $53,600.
The award results in a total financial recovery exceeding USD $614,000, exclusive of continuing accrued interest.
The outcome highlights the effectiveness of ICC arbitration as a mechanism for resolving complex international disputes by providing neutrality, enforceability under the New York Convention, and procedural efficiency in cross-border commercial conflicts.
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.
About Transnational Matters PLLC
Transnational Matters PLLC is an international law firm focused on complex cross-border litigation, international arbitration, investor-state disputes, international business transactions, and regulatory matters. The firm represents clients worldwide in high-value international disputes and commercial matters across multiple jurisdictions.
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