AVELLUM successful in FOSFA Arbitration

AVELLUM acted as a lead counsel to a major Ukrainian agriculture trader in FOSFA arbitration with over EUR1,2 million in dispute. The dispute concerned the buyers’ default under the contract for sale of oilseeds. The parties based their cases on various concepts of English law, such as repudiation, declaration of default, acceptance by conduct, amendment of delivery terms by conduct, actual damages as opposed to default damages and prohibition/force majeure.

AVELLUM assisted the client in obtaining FOSFA award in its favour, as FOSFA tribunal accepted the client’s argumentation and awarded actual damages borne by the client as a result of the buyers’ default.

AVELLUM’s team was led by partner Oleksii Maslov with significant support from senior associate Illia Ivanusa.