Fishkin Lucks prevailed today before The International Court of Arbitration of the International Chamber of Commerce, which entered a Final Award in the principal sum of $6,583,004 plus another $361,347 in costs in favor of the Firm’s client, an international money transfer service provider, against its former money transfer agent in Pakistan. The client and its former agent were parties to a Representation Agreement (“Agreement”), pursuant to which the former agent agreed to provide money transfer services within the client’s money transfer network into and out of Pakistan. Under the Agreement, the former agent was required to turn over the principal and a percentage of the fees it collected on transfers from locations within Pakistan. After the former agent ceased making payments in accordance with the client’s settlement calculations, and breached the terms of a Repayment Agreement, the Firm commenced arbitration on the client’s behalf pursuant to the terms of the Agreement. The Final Award entered by an arbitral tribunal composed of three arbitrators, following written submissions and live testimony, represented a complete victory for the client.
