How to turn termination of contract into $10.5 mln?
AGA Partners team, represented by Ivan Kasynyuk, Partner, and Associates – Dmitry Koval and Iurii Gulevatyi, has won in FOSFA International Arbitration. The case concerned the byuer’s termination of the contact for the supply of soybeans to the Russian Federation, due to restrictions on the import of agricultural products from Ukraine.
Thanks to a strong legal position and correct line of reasoning, the arbitral Tribunal has fully satisfied our client's claim for USD 10.5 million default losses.
It’s worth noting that few banks are willing to lend to the agricultural sector. At the same time, if the company has already collaborated with the creditor bank, it plays a positive role in its evaluation as a contractor, because it shows partner’s reliability.
Also, the participants discussed possible risks during performance of forward contracts and possible ways of their prevention.
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The article is available in Ukrainian only.
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