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Eterna Law

SOPHIA BUSINESS CENTER, 6 RYLSKIY LANE, 01601 KYIV, UKRAINE
Tel:
Work +380 44 490 7001
Email:
Web:
https://www.eterna.law
Almaty, Kiev, Moscow

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AstapovLawyers successfully represents OJSC Efirnoye

July 2010

In one of a range of major disputes between Malaysian palm oils suppliers and Russian buyers and processors emerged in 2007-2008 due to high volatility of market prices AstapovLawyers successfully represented its Russian Client in defending the arbitral award issued by International Commercial Arbitration Court at the Chamber of Industry and Commerce of the Russian Federation.

In one of a range of major disputes between Malaysian palm oils suppliers and Russian buyers and processors emerged in 2007-2008 due to high volatility of market prices AstapovLawyers successfully represented its Russian Client in defending the arbitral award issued by International Commercial Arbitration Court at the Chamber of Industry and Commerce of the Russian Federation. The arbitral proceedings were positive to our Client, OJSC Efirnoye, where he succeeded in his claim for penal damages against the Malaysian supplier Alpha Trading Ltd. (part of Delta Wilmar Group of companies) and the huge counterclaim for damages of approximately USD 8 mln. submitted by the latter failed.

The unsuccessful Malaysian supplier addressed the Moscow Arbitration Court with a challenge to the arbitral award. The supplier challenged the validity of the arbitration award on the basis of alleged conflict of the mentioned award with the public order of the Russian Federation, non-compliance with arbitral procedure and invalidity of arbitration agreement. In the findings made in the respective court order it was emphasized that the issue of applicable substantive issue may not be re litigated in national courts and there may have been no breach of procedure if the applicant was denied in considering the issue of applicable law by way of preliminary issue in an interim award. The court further held that parallel arbitral proceedings held by the parties in International Commercial Arbitration Courts in Russia and Ukraine were acceptable for public order of the Russian Federation and that by accepting the jurisdiction of both International Commercial Arbitration Courts the supplier has waived his right to rely on the invalidity of arbitration agreement.

The case was managed by the Managing Partner Mr. Andrey Astapov and Senior Associate Mr. Eugene Blinov.

 

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