Chedi Chiang Mai Owner liable for damages for breach of contract
SINGAPORE (Sept. 16, 2015) — GHM has obtained in its favour, a ruling by the ICC International Court of Arbitration following arbitration proceedings spanning a 20-month period over GHM’s management of The Chedi Chiang Mai.
On Nov. 4 2013, Pacific Hotel Chiang Mai Co. Ltd., the owners of The Chedi Chiang Mai, had wrongfully terminated GHM as manager and operator of The Chedi Chiang Mai without reasonable notice. GHM was then compelled to initiate arbitration proceedings against the owning company.
In the arbitral proceedings before the ICC International Court of Arbitration, GHM countered that it had, in the course of managing The Chedi Chiang Mai from 2006 to 2013, more than adequately met and fulfilled the terms of its agreement with Pacific Hotel Chiang Mai Co. Ltd.. In addition, GHM had won placement for the hotel on some of the world’s most prestigious awards lists, including the No. 1 spot on Asia’s Best Resort list by Condé Nast Traveler in its Readers’ Choice Awards for 2013.
GHM was awarded substantial damages as the owning company’s allegations against GHM were without merit.
“With respect to The Chedi Chiang Mai, the favourable ruling by the tribunal clearly vindicates GHM and affirms our commitment to delivering excellent results with a team that demonstrates the highest level of integrity and management,” said GHM President Hans R. Jenni.
