GAFTA Tribunal supported claim of AGA Partners Law Firm Client in full. The Client during arbitration was represented by Ivan Kasynyuk, Partner of AGA Partners Law Firm.

The award of arbitration satisfied the default price - as the difference between contract price and resale price. Moreover, GAFTA Tribunal agreed to the points of AGA Partners regarding the applying of the rate of 8,25% per annum for the delay in payment (refinance rate of the Russian Federation). Also the damages for the cancellation of the fixture recap were satisfied in full.

All the points of the Buyers regarding the force-majeur circumstances, non-approval of the vessel and applying of the rates LIBOR/EURIBOR were recognized to be incompetent.

The whole amount of the satisfied claim is more than 220 000 USD.