Settle-Down of Commission Dispute under International Arbitration

8Pm, March 19, 2008, a Settle-Down Agreement was signed by Claimant and Respondent in the hearing room #608 of China International Economy and Arbitration Commission. Claimant represented by Simon Lee, You Lei, Max Liu and Chen Ning of Wans Law Firm LLP rescued a commission in US dollars 3.5 millions and won justice and fairness.

Lastyear,end of April, Respondent declared that contract was terminated andcommission would never be paid. After several months’ consultation andnegotiation, efforts for settlement failed. Therefore, Claimant filedDemand for Arbitration. The Respondent did not like to show out weaknessand being coward,but felt that strong arguements stayed withit. Respondent filed counter claim for  terminating the contract andasked damages in US dollars about 3 million.

Respondent retained Chinese number one law firm in Beijing and secured back up force from English Queens Counsel.

Lawyers of Wans Law Firm LLP did not feel afraid of “Authority”, but well prepared evidence  and arguments.

Asthe hearing proceeding on its 2nd day lunch break, winning and losingrate seemed slightly clear. The tribunal invited both parties forsettle-ment. Readily, both parties griped this chance for possiblesettlement. 3Pm in the afternoon, Claimant announced that  settlementwas reached. Respondent waives all its counterclaim and Claimant won itscommission with certain compromise (S.L.)