January.29.2021
Orrick’s Geneva team successfully represented EspeRare Foundation, a Swiss non-profit supporting advanced clinical research in rare, so-called “orphan” pediatric diseases, in a Swiss Chambers international arbitration proceeding. The outcome validated EspeRare’s rescission, on grounds of fraud in the inducement, of an R & D collaboration agreement.
In addition to validation of the rescission of the agreement, the Sole Arbitrator awarded to EspeRare costs and attorneys’ fees in an amount exceeding the otherwise refundable unspent funds invested in the R & D program by the adverse party, resulting in a net positive amounted recovered by the Foundation.
The Orrick team was led by partners Charles Adams, co-leader of our international arbitration practice, and Vanessa Liborio, and included associate Anaëlle Mach, and paralegals Nathalie Bréant and Merita Paçarizi. Orrick provided a significant portion of its services on a pro bono basis to support the Foundation’s humanitarian mission.