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Eterna Law

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

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AstapovLawyers successfully advocated for a leading Kazakhstan-based grain supplier

September 2010

AstapovLawyers successfully advocated for a leading Kazakhstan-based grains supplier and succeeded in the appeal in arbitration held under the FOSFA Rules.

The Kazakh company was not served a notice claiming arbitration in a proper fashion which resulted in an ex parte first tier arbitration, according to which the claimant, a major Danish grain trader, was awarded damages in the amount of approximately USD 400 thousand.  

The first tier award relied solely on the facts presented by Danish company. AstapovLawyers took the case up at the appeal stage invoking defence on procedural and substantive grounds.

The Board of Appeal set aside the Award of the first tier Tribunal and held that though the Kazakh company was liable for breach of contract the market price on the date of default was substantially lower than the contract price and dismissed the claim by the Danish company.

The case also marked broad expertise of AstapovLawyers in commodity arbitration who were able to construe the defence on the basis of the descending market trends. This case was also a remarkable example of fast-track arbitration as the appeal stage of the arbitration took only 6 months, which is a record for commodity arbitrations.

This case was handled by AstapovLawyers international arbitration practice, in particular by Senior Associate Eugene Blinov and Associate Andrey Zviagin.For more information, please contact Elena Karchova, PR Director, AstapovLawyers: +38 (044) 490 70 01, pr@astapovlawyers.com


AstapovLawyers

AstapovLawyers International Law Group is one of a leading full service Law Firms in Ukraine, consistently named among the leaders of the market for quality and reliability of service as well as for the depth of expertise by major international and local legal directories. The Firm employs over 50 carefully selected and well-motivated professionals who are responsive, solution-oriented, creative and committed. Firm's key clients include Nemiroff, Soyuz-Victan, Raiffeisen Bank Central, Danone, Mriya Agroholding, Bunge, Energoatom, DEMZ, Rodovid Bank. More information about the Firm can be found at http://www.astapovlawyers.com/

 

 

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