AGA Partners successfully represented a UAE-based trading company (Sellers) in London arbitration against an Egyptian company specializing in the distribution of agricultural commodities (Buyers) related to a claim for recovery of debt in the sum of USD 600,000.00.

The dispute arose from a contract for the delivery of 6,000 MT of Ukrainian corn under CIFFO terms to Egypt. Due to the Buyers' inability to make timely payment, the contract quantity of the goods was reduced to 3,000 MT, and partial payment was made. Despite repeated acknowledgments of the outstanding debt, the Buyers failed to settle the remaining balance, leading the Sellers to initiate arbitration proceedings.

In response to the Sellers’ claim, the Buyers submitted the documents indicating the full prepayment for the goods. The Sellers responded that the invoices did not reflect any actual prepayment. To strengthen their position, the Sellers submitted a disclosure request, seeking evidence of the alleged payment from the Buyers. However, the Buyers failed to produce any relevant documents.

As a result, the Tribunal concluded that the Buyers had failed to prove any prepayment for the goods and sided with the Sellers, fully upholding their claim. The Tribunal ordered the Buyers to pay the outstanding balance for the delivered goods, affirming the Sellers’ right to recover the full amount sought in the arbitration.

The AGA Partners’ team was represented by partner Ivan Kasynyuk, counsel Pavlo Lebediev, and associate Andrii Tantsiura.