Unlawful trade reversals and manipulation found in an ICAC arbitration

We have successfully represented our Czech client against a Moscow-based broker who cancelled, manipulated and withheld the client’s profits. Our client’s rights were vindicated in a unanimous decision rendered by a 3-member arbitral tribunal under the Rules of the the International Commercial Arbitration Court at the Russian Federation Chamber of Commerce and Industry.  The broker failed to give any explanation for its actions almost until the beginning of the arbitral proceedings which the tribunal assessed as follows: “Arbitral tribunal believes that such conduct of the Respondent [the broker], that is, closing the trading account and cancelling the Claimant‘s [the client’s] transactions without a meaningful explanation and leaving the Claimant’s respective requests without response is manifestly improper and it [sic!] not in line with good faith and fair dealing requirements.”