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IMPACTA LAW has successfully represented a client in several arbitration proceedings arising out of GAFTA No. 78 commodity sale contracts governed by English law.<\/p>\n
Following the client\u2019s delivery of the goods to the terminals at Pivdennyi port, the buyer unilaterally terminated the contracts, relying on alleged frustration as a result of the blockade of the port and the related export restrictions in spring 2023.<\/p>\n
One of the key issues in the disputes was whether the buyer could claim frustration of the contracts when, prior to the blockade of the port, it had sufficient time to nominate vessels and arrange for the loading of the goods. The tribunals also examined whether the doctrine of frustration under English law could apply in light of the allocation of risk between the parties under the “Force Majeure and Prohibition” clause.\u00a0<\/p>\n
The IMPACTA LAW team secured arbitral awards in the client’s favour. In particular, the arbitral tribunals accepted the client\u2019s position that the buyer had ample opportunity to perform the contracts before the port was blocked and, consequently, that the buyer’s unilateral termination of the contracts on the grounds of alleged frustration was wrongful.\u00a0<\/p>\n
The tribunals awarded the client the claimed damages in full, together with the additional costs incurred in storing the goods at the terminals and conducting surveys, as well as ordered the buyer to compensate the client for the costs of removing the goods from the terminals and re-routing them, which the client was forced to arrange as a result of the buyer’s default.<\/p>\n
The team working on the case was led by Olena Perepelynska<\/strong>, Partner and Head of the International Arbitration Practice, and included Senior Associates Nadiya Mykiyevych<\/strong> and Anna Kozyrieva,<\/strong> and Associate Angelina Sniadanko<\/strong>.<\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" IMPACTA LAW has successfully represented a client in several arbitration proceedings arising out of GAFTA No. 78 commodity sale contracts governed by English law. Following the client\u2019s delivery of the goods to the terminals at Pivdennyi port, the buyer unilaterally terminated the contracts, relying on alleged frustration as a result of the blockade of the […]<\/p>\n","protected":false},"author":4489,"featured_media":779353,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[24,23],"tags":[],"yoast_head":"\n