Asters' attorney team has successfully defended Oilseeds Trading, a UK-based grain, oilseed and protein meal trader, in an international FOSFA* arbitration.
A Middle East buyer filed a claim against Oilseeds Trading in connection with a contract for the purchase of sunflower oil in bulk. The claimant made an advance payment for significant quantities of the goods of Ukrainian origin but failed to take them out by the date specified in the agreement. On expiry of the delivery period, Russian forces occupied the territory of Ukraine where the sunflower oil to be delivered to the buyer was stored.
Having received Oilseeds Trading's defence and counterclaim for damages, the claimant abandoned the arbitration and the arbitral tribunal therefore dismissed the buyer's claim. This result allows Oilseeds Trading to get compensation for the damages it suffered in connection with the buyer's failure to comply with the contract.
The Asters team working on the project was led by Counsel Oleksandr Frolov and included Senior Associate Daryna Ushchapivska, Associate Oleksii Izotov** and Junior Associate Hordii Lysenko.
* The Federation of Oils, Seeds and Fats Associations
** Oleksii Izotov left Asters in September 2023
Asters is the largest full-service law firm in Ukraine with offices in Kyiv, Brussels, London, and Washington, D.C. The firm has access to over 125 jurisdictions through a well-developed network of partner law firms.
