Astapov announced yesterday that it has successfully represented one of the largest Ukrainian vodka producers before the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation.
According to Astapov, the dispute resulted from the buyer's failure to effect payment for the goods supplied under a long-term DAF sale contract. The total debt of the buyer to Astapov's client was in excess of USD 6 million. According to Astapov, “the claim was challenged by the buyer on the basis of the alleged off-set of mutual monetary counterclaims said to have been made after the arbitration proceedings had been commenced.”
The ICAC rejected the buyer’s arguments and ordered the the buyer to pay the entire purchase price for the shipped goods along with additional contractual penalties. The matter was handled for Astapov by Partner and Head of International Arbitration Eugene Blinov and Associate Marina Agaltsova.
