Another victory in ICAC at the UCCI arbitration
ARBITRADE has secured another victory for its client, a transnational agrarian company, in a dispute before the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry (ICAC at the UCCI). The dispute arose out of the seller’s failure to deliver the goods. ARBITRADE’s client, a purchaser in the case, claimed recovery of damages calculated at the price difference between market price and contract price and contractual damages. A peculiar choice of law in the contract has brought a particular complexity to the dispute. The parties subjected the contract to Ukrainian law but expressly excluded the application of the Vienna Convention on Contracts for the International Sales of Goods. Despite this fact and the respondent’s resistance, the ARBITRADE’s team persuaded the tribunal to grant damages based on the price difference between the contract price and market price and award contract damages. The team was led by Pavlo Trytenichenko and Dr Ivan Vashchynets.
Dr Vashchynets comments: ‘We are happy to continue to deliver the best results to our clients in international arbitration. The case raises interesting questions about the calculation of damages and sets a good practice that corresponds to international standards.’