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Eterna Law

SOPHIA BUSINESS CENTER, 6 RYLSKIY LANE, 01601 KYIV, UKRAINE
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Almaty, Kiev, Moscow

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AstapovLawyers protected interests of a Belgian credit-insurance company in the International Commer

January 2013
The dispute arose out of failure of Ukrainian dairy producer to supply milk ingredients to its Belgian partner. In its turn, a Belgian credit-insurance company, which insured commercial risks of a Belgian purchaser, subrogated its rights and referred to the ICAC at UCCI.
AstapovLawyers International Law Group has successfully represented a major Belgian credit-insurance company in the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry in the dispute with a leading Ukrainian dairy producer.

The dispute arose out of failure of Ukrainian dairy producer to supply milk ingredients to its Belgian partner. In its turn, a Belgian credit-insurance company, which insured commercial risks of a Belgian purchaser, subrogated its rights and referred to the ICAC at UCCI.

In the course of arbitration proceedings the President of ICAC at the request of Belgian party secured the claim and issued an order prohibiting the defendant to alienate its assets or funds in the amount of claim. Finally, the ICAC tribunal found that Ukrainian supplier was in breach of the sale purchase contract and awarded about USD 0.8 million in favor of a Belgian credit-insurance company.

The matter was handled by Oleh Beketov, Partner and Head of International Arbitration and Litigation Department of AstapovLawyers, Ivan Lishchyna, Senior Associate, Igor Semenov and Oleh Gryn, Associates, under general coordination of the firm’s Managing Partner Andrey Astapov.

"The dispute arose from an ordinary sale purchase contract of milk products. However, it was complicated due to the fact that a Belgian credit-insurance company received the right to claim against a Ukrainian milk supplier as a result of subrogation. So, issue of subrogation of rights under arbitration clause was one of the most important issues to be addressed in the course of arbitration. Also, during the course of arbitration proceedings the defendant used a hostile defense strategy aimed at significant delay of proceedings. We are glad that our team has managed to represent issues of multiparty deal clearly before the tribunal and finally won favorable award for our client", - commented Oleh Beketov, Partner and Head of International Arbitration and Litigation Department of AstapovLawyers.

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