Client Alert: IOANNIDES DEMETRIOU LLC has achieved a significant win for its client, the Paphos Sewerage Board (SAPA) in the arbitration relating to the claim raised by the Saur-Iacovou JV consortium on 12/03/22 based on article 19.1 of the contract for the Operation and Maintenance of the Paphos Sewerage Board Biological Unit. located in Achelia, which involved an additional payment of €2,400,000 until the end of the 8- year contract. A final decision has been issued by the arbitrator Mr. Costas Clerides (former Attorney General of the Republic of Cyprus) which rejected the said claim in its entirety and awarded the legal costs of the Paphos Sewerage Board as the successful party to the proceedings.
View Paphos mayor Mr. Phedon Phedonos’ release here.
The case was handled by our Director, Demetris Kronides.
