Defence of the oil trader’s rights under oil product mixed storage
4 October, 2017
4
A British law firm, in the interests of the largest global oil product supplier, applied to Interlegal for clarification of the Ukrainian law provisions upon defense of title under property storage at one of the Ukrainian terminals.
The request concerned storage of special property type – oil products being subject to special acceptance and accounting rules. Oil products should have been stored at the terminal jointly with another supplier’s oil products (mixed storage).
At the Client’s request, Interlegal senior lawyer Karyna Gorovaya and junior lawyer Elena Pashkova, under general supervision of partner Natalya Myroshnychenko, analyzed the issues of law instruments and mechanisms in the Ukrainian legislation aimed at owner’s and depositor’s right defense under oil product mixed storage. Special attention was drawn to practical cases of property withdrawal in the framework of criminal and/or executive proceedings against the depositee or other depositees, generic property arrest and commencement of bankruptcy procedure against the depositee or the depositor.
Following conclusion, the Client obtained practical recommendations upon filling-in waybills and warehouse documents in order to mitigate the owner’s risks.
Due to prompt request and duly provided recommendations, the Client’s British representatives adjusted the proposed supply scheme, transport document proformas and eliminated most of the Client’s risks.
