AGA Partners successfully represented a large UAE agricultural company in London arbitration. The dispute related to a contract for the sale of commodities for a total value about USD 6,1 million.
The dispute arose out of the respondent’s failure to supply our client 25,000.00 metric tons of wheat. Among other things, the dispute involved complicated legal issues related to the variation of the contract by change of the respondent’s company as the party to the contract, and validity of the notice of arbitration submitted by the client.
After an exchange of written submissions between the parties, the arbitral tribunal rendered the award in favor of the client, by ruling that the client submitted valid notice of arbitration against two companies, whilst change of the respondent’s company did not affect the client’s legal stance on jurisdiction in arbitration.
The tribunal found that due to the respondent’s failure to supply the goods, our client was entitled for damages in sum of USD 2 million.