INTEGRITES succeeds in GAFTA arbitration in favour of the Swiss agricultural commodity trader
INTEGRITES successfully represented interests of Swiss Sellers as Claimant in a London-seated GAFTA arbitration against Swiss Buyers as Respondent concerning the violation of the terms of the contract for the sale of corn of Ukrainian origin. The default of the Buyers under the sales contract and their consequent denial to pay USD 340K damages to INTEGRITES’ client triggered the commencement of the GAFTA arbitration. The Sellers sought a recovery of damages for the breach of the sales contract, a compound interest on the whole amount of damages, and a compensation of all of the arbitration cost incurred.
The outcome of the dispute largely depended on the success of the Sellers’ argument that the Buyers breached their implied obligation under English law to arrange confirmation of e-applications for shipments by the seaport in Ukraine within reasonable time and to provide feasible instructions for delivery of the goods by railway wagons.
Despite guerrilla tactics employed by the Buyers in the arbitration proceedings, INTEGRITES secured a victorious award for Sellers. Once the award was rendered, the Buyers voluntarily made the payment under the award.
Supervised by partner and Head of International Arbitration Olena Perepelynska, the project team included senior associate Krystyna Khripkova and junior associate Alina Ostapyuk.