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Eterna Law

SOPHIA BUSINESS CENTER, 6 RYLSKIY LANE, 01601 KYIV, UKRAINE
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Work +380 44 490 7001
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www.eterna.law
Almaty, Kiev, Moscow

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AstapovLawyers gains another major success in the complex matter heard at ICAC at the UCC

May 2010

'I have to admit that this was the most complex arbitration matter ever heard by ourselves' - admitted the Chairman of the Arbitration Tribunal at the final stage of the arbitration matter referred to International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry. The dispute referred to arbitration emerged due to restrictive export policy employed by Ukraine in 2006-2007 when the introduced export quota and licensing regime had disrupted the performance of many bargains on the grains market and in particular led to the mentioned dispute between one of the biggest European Swiss-based grain&oils traders and one of the leading grain export companies of Ukraine.

On behalf of its Client, the European Swiss-based grain&oils trader, AstapovLawyers claimed reimbursement of prepayment already effected and damages for breach of several addenda to the export contract between the parties with interest.

The dispute was an excellent example of complicated multi-issue arbitration involving a jurisdictional challenge, contract based on GAFTA terms, applicable English law (with the said clause recognized as defective), seat of arbitration in Ukraine, dual submissions by the Parties under both English and Ukrainian law, separability of obligations under the contract to be governed by different laws and many other. Notwithstanding the necessity for substantial exchange of written submissions and several oral hearings the ICAC confirmed its reputation as being one of the quickest arbitration fora in the world and the Award was rendered within a little more than 6 months. In the outcome the ICAC though with some controversies but found that it had jurisdiction to hear the matter and awarded the claiming party with more than USD 3,5 million accompanied by arbitration costs and legal fees. The procedural strategy elaborated by AstapovLawyers allowed the Claimants to obtain interim measures against the Respondents securing the claim.

At AstapovLawyers the matter both for issues under English and Ukrainian law at the pre-arbitral and arbitral stages was handled by Senior Associate Mr. Eugene Blinov, Associates Mr. Oleksiy Sereda and Mr. Andrey Zviagin under supervision and coordination by the Managing Partner of the company Mr. Andrey Astapov.

 

www.astapovlawyers.com     

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