NEWS (March 3, 2017)

Trusted Advisors won GAFTA arbitration

Trusted Advisors has successfully defended the interests of the leading Ukrainian agricultural trader at the Court of Arbitration of the International Grain and Feed Trade Association (GAFTA).

The essence of the dispute was in the recovery of debts due to the violation of the obligations under the contract of purchase and sale of grain between the Turkish buyer and Ukrainian seller. The complexity of this process has led to the fact that the dispute lasted for more than a year and included several rounds of clarifications of the parties. The final decision in the dispute was rendered by the appeal court.

GAFTA Arbitration Court took the side of the plaintiff, who was represented by the Trusted Advisors' team, and fully satisfied the claim of the Ukrainian trader totaling the approximate sum of USD 300,000 (including penalties, the cost of arbitration, etc.) and stated that a Turkish buyer has breached the contract.

Trusted Advisors’ team was led by managing partner Ivan Mishchenko, with a significant support from an associate Daria Korotchenko.

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