Eterna Law | View firm profile
The matter arose out of a contract on sale of commodities to a Middle Eastern trading company on C&F delivery basis. The arbitration proceedings were commenced due to the buyer’s failure to effect full payment for the delivered quantity of the goods, compensate liquidated damages caused by delay in payment for the goods and take delivery of the balance quantity of the purchased goods. As a consequence, the GAFTA Tribunal found the buyer to be in breach of the contract, awarded the Client with an amount exceeding USD 1.5 million, as well as dismissed the buyer’s unquantified counterclaim for the claimants’ alleged failure to ship the goods.
The case was handled by Mr. Eugene Blinov, Partner and Head of International Arbitration Department, Mr. Ievgen Boiarskyi, Associate, and Mr. Vsevolod Mazurenko, Junior Associate.