Interlegal obtained FOSFA award in favor of the Client in the amount exceeding 4 million USD
16 October, 2023
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The Client applied to our law team due to non-performance of contract terms, i.e. non-payment for the goods.
Parties to the contract were Cypriot and Swiss residents who agreed on sunflower oil delivery on the terms CPT Chornomorsk. The appropriate contract was governed by English law and incorporated proforma FOSFA 57. The Client (Seller) performed all the contract terms, but payment for the goods still was not received. Negotiations between the parties were unsuccessful and in vain.
In the process of representing interests, the Client’s Counteragent made procedural pressure, in particular, contested jurisdiction and delayed proceedings by submitting the large set of documents and evidence. However, Interlegal lawyers not only succeeded in proving the jurisdiction but also persuaded arbitration court in grounds for satisfying the claim.
Therefore, while representing the Client’s interests, Interlegal facilitated obtaining FOSFA positive award in the amount exceeding 4 million USD to be payable by the Counteragent to the Client, jointly with interests and arbitration fees.
Interlegal partners Alexey Remeslo and Artem Skorobogatov and junior lawyer Denys Bakaiev led the case.
