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AGA PARTNERS REPRESENTED THE INTERESTS OF UKRAINIAN SUGAR EXPORTER IN TWO RSA ARBITRATIONS

Both cases concerned the seller’s action for the price claim of the goods duly delivered under DAP sale contracts. Additionally, the seller claimed contractual interest at the rate of 0.1% on the sum of the debt for each day of delay.

During the arbitration proceedings, the parties exchanged the four rounds of written submissions and conducted an oral examination of the parties' witnesses.

As a result of the professional and coordinated efforts of AGA Partners, the seller’s claims were fully satisfied.

The total award conferred upon the seller following both RSA arbitrations amounts to EUR 3,700,000.00. Within this sum, EUR 1,300,000.00 is designated as contractual interest. It is particularly noteworthy that this interest will continue to accrue until such time as the debtors fulfil the obligations mandated by the arbitration award in full.

Considering the parties’ positions, the tribunal concluded that the contractual interest amount was not unproportionate compared to the sellers' legitimate interest in timely payment for the goods, considering the potential penalties from Ukrainian authorities related to foreign currency control.

Furthermore, the tribunal ruled in favour of the seller concerning the arbitration costs.

The successful outcome of both RSA arbitrations was achieved through the joint efforts of partner Iryna Moroz, along with associates Anastasia Shevchuk and Vasyl Radetskyi.

02.05.24