Philippines property firm settles arbitration for claims of breach of contract in real estate JV before SIAC tribunal
Clients Philippines property firm
Jones Day represented a Philippines property firm in a dispute against its JV partner before a tribunal formed under the rules of the SIAC. The dispute revolved around the firm's alleged US$1 billion breach of both shareholder and investment agreements the parties signed to undertake a joint venture development of undeveloped land along Manila Bay. The firm filed significant counterclaims of over US$500 million. A confidential settlement was ultimately reached.