The Black Sea Law Company has successfully defended the interests of one of the largest exporters in Ukraine!
This case concerns a breach of a supply contract. In addition to the fact that Buyer did not accept the goods, the documents of the title were lost, and therefore the Seller had no right to independently dispose of the goods.
In international trade, the parties generally choose arbitration. Without a doubt, it is always fast, efficient, and effective. In Ukraine, the practice of international commercial arbitration is developing more and more every year. International Commercial Arbitration Court at the Ukrainian CCI (the ICAC) is a flagship institution among the arbitration institutions in Central and Eastern Europe and a recognized arbitration institution worldwide. The Black Sea Law Company appealed to the ICAC. Сertainly, the award was in our Client’s favor.
However, it is not enough just to get an arbitral award, it is more important to enforce it. The Convention on the Recognition and Enforcement of Foreign Arbitral Awards, also known as the “New York Convention 1958”, is one of the key instruments in international arbitration. The New York Convention applies to the recognition and enforcement of foreign arbitral awards. The New York Convention is considered one of the most successful. As of 2020, the Convention has 166 state parties, which includes 162 of the 193 United Nations member states, and Ukraine is one of them.
In our case, the countries of both companies are parties to the New York Convention. As a result of negotiations, the Defendant paid the debt in the case and fully complied with the arbitration award!
This case handled by Evgeniy Sukachev Senior Partner, Anastasiya Sukacheva Partner, Irina Dolya Associate
