- The Claimant submitted a Statement of Claim on the 27th of July, 2021. The amount in question was HUF …. On the 14th of February, 2022 Claimant extended its claim to HUF …. The Claimant advanced the costs of the arbitration procedure in full. The Arbitral Tribunal held hearings on the following days: 17 October 2022 and 20 November 2023.
- On the 15th of December 2023 the counsel of Respondent, … attorney-at-law declared that he would not represent Respondent in the future.
- On the 21st of February, 2024 Mr …, former Chairman of Respondent declared that Respondent as legal entity does not exist anymore since it was deleted from the company registry because of bankruptcy.
- The Arbitral Tribunal issued an order on the 22nd of February, 2024, in which it ordered both parties to provide proofs, documentary proofs on the existence or the liquidation of the Respondent within 8 days upon receipt of the order. The Parties were also invited to provide any possible proof on the potential legal successor of the Respondent within the same deadline. The Arbitral Tribunal informed the Parties that in case it is proven that the Respondent is liquidated and does not exist, the Arbitral Tribunal shall be in a position to proceed pursuant to par. (1) point g) of Art. 46 of the Rules of Proceedings.
- On the 26th of February, 2024 Mr … also attached an excerpt from the company registry stating that Respondent as Company ceased to exist. Claimant did not respond to the order of the Arbitral Tribunal stated as per the 22nd of February, 2024.
- Section 46 (1), point g) of the Rules of Proceedings reads as follows: The arbitral tribunal shall terminate the proceedings by order if under point g) the arbitral tribunal considers that the continuation of the arbitral proceedings becomes unnecessary or impossible for any other reason. Since based upon the foregoing the Respondent as legal entity does not exist any more the Arbitral Tribunal needs to apply the cited paragraph of the Rules of Proceedings.
- Pursuant to Section 46(2) in an order on termination of proceedings the Arbitral Tribunal shall specify the amount of the arbitration fees and costs and decide who shall bear them. The amount of the registration fee was determined by Section 53(1) of the Rules of Proceedings and the calculation of the arbitration fees is based on Section 53(2)-(3) of the Rules of Proceedings.
VB/21053
