Eterna Law has successfully represented the Ukrainian agricultural producer in arbitration against one of the world’s largest agricultural companies. The dispute arose due to the breach of the corn shipment contract, which resulted from the forward contract crisis and drought in Ukraine and was considered under the rules of the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry (ICAC at UCCI, Kyiv).
In the course of this case, issues of insuring and hedging risks of non-delivery under the shipment contracts and determination of the method of calculation of the damages applying the principle of reasonableness were carefully examined. After examining these issues, Eterna Law’s lawyers prepared a strong argumentation and successfully represented the client during the oral hearings. As a result, the arbitral tribunal rejected the claims of the opposing party regarding damages caused by the breach of the shipment contract.
Mykhailo Korchynskyy, Associate, Viktor Pasichnyk, Junior Associate and Illia Ivanusa, Junior Associate, worked on the project under the guidance of Eugene Blinov, Partner and Head of the International Arbitration.
