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AstapovLawyers successfully defended one of the largest Kazakh agricultural holdings in GAFTA arbitr
AstapovLawyers successfully represented Ivolga Group in a dispute with a large Russian based trading company. The dispute concerned whether the parties had actually entered into a binding contract for sale of commodities.
The appointed GAFTA Tribunal upon receipt of written submissions from both parties has found in favour of Ivolga Group and declared that no binding contract was concluded and that it did not have jurisdiction to hear the matter. The Tribunal has based its award on the criteria set by Judge Bingham in the widely applied case Pagnan s.p.a v Feed Products Limited . Having applied these criteria to the facts of the matter the Tribunal has found that the parties were only in the process of negotiations and that there was no agreement over the essential terms of a potential contract.
The matter was handled by AstapovLawyers’ Counsel Mr. Eugene Blinov and Junior Associates Ms. Maryna Riashchenko and Ms. Kateryna Ianishevska.