We are pleased to announce that AGA Partners' team has won the case in GAFTA International International Arbitration (London), where Irina Moroz, Partner, and Dmitry Koval, company’s Associate, represented the interests of the client.
The case concerned a dispute as to whether there was a contract. The main goal was to prove the existence of a contract, as during a long negotiation and discussion, the market price for goods fell, and the defendant refused to sign the contract. Under the framework of English law, a contract can be regarded as concluded without the signatures of the parties, if they have formally agreed on the main provisions.
Thanks to a strong legal position and correct line of reasoning, the arbitral Tribunal confirmed the conclusion of the contract, despite the absence of the parties’ signatures, and fully satisfied our client's claim for $1 million of default losses.