Interlegal won GAFTA arbitration amounting to $ 300,000 in favour of Ukrainian agrarian trader
Interlegal won GAFTA arbitration upon the dispute concerning the Buyer’s full non-payment for whet bran, FOB delivery from Nikolayev to Izmir.
The Seller fulfilled its contractual obligations in full, followed by loading the goods on board of the vessel and submitting payment documents. But the Buyer did not make payment in due time: first provided false SWIFT, then contested payment amount based on supply of allegedly unsound goods under the previous contract and requested for discount. Following the goods delivery to Izmir sea port, the Buyer, despite cargo retention by the Seller and the latter’s prohibition to discharge, took the goods unlawfully against LOI.
After long-term negotiations with the Buyer, the Seller applied to GAFTA arbitration for debt recovery. At this stage, Interlegal lawyers faced the issue to bring third party to liability. Formally, the English company was the Buyer under the Contract, while in fact the Contract was performed (instructions, correspondence) mainly via mail server of the Turkish company engaged in similar activity. The Turkish company signed and sealed the Contract as the Guarantor.
An option to enforce decision against the Guarantor was a matter of concern for the Client. Interlegal lawyers drafted justified legal position and persuaded arbitrators in the Seller’s right to charge indebtedness both from the Buyer and from the Guarantor.
Interlegal lawyer ?Valeria Ivanova, represented the Client’s interests at GAFTA arbitration.
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