This case is about the scope of a release and full discharge provision in a Settlement Agreement governed by English law concluded between claimant (Subsea Survey Solutions, a Russia-based company) and defendant (South Stream, based in Amsterdam).
Subsea initiated proceedings before the NCC District Court, claiming payment by South Stream of an amount in excess of EUR 22 million pertaining to alleged non-contractual damages under Russian law.
The court finds that Subsea - by agreeing to the release and full discharge in the Settlement Agreement - is barred from bringing this claim. Applying English law, the court rules that a reasonable person having all the background knowledge which would have been available to the parties, would have clearly understood that the parties’ intention was to release South Stream from any and all claims under any law, including non-contractual claims under Russian law. Therefore, the court dismisses Subsea’s claims.