Soeximex SAS v Agrocorp International PTE Ltd

Soeximex SAS v Agrocorp International PTE Ltd

The arbitral tribunal failed to address two material and distinct arguments advanced by the Buyers regarding the application of US and EU sanctions. This failure constituted a serious irregularity under s68(2)(d) of the Arbitration Act 1996 and caused substantial injustice, warranting remission of the award to the tribunal for reconsideration of those issues.

Parties
Claimant / Buyers: Soeximex SAS; Defendant / Sellers: Agrocorp International Pte Limited
Jurisdiction
England and Wales
Judgment Date
31 October 2011
Procedural Posture
Commercial Arbitration Challenge / Judgment on Application to Set Aside/remit Arbitral Award Under S68 Arbitration Act 1996
Outcome
Award remitted to arbitral tribunal for reconsideration
Legal Topics
Serious Irregularity Under S68 Arbitration Act 1996, Illegality of Contract, Effect of US and EU Sanctions, Failure to Deal With Issues, Remission of Arbitral Award
Arbitration Commercial Law International Trade Serious Irregularity Under S68 Arbitration Act 1996 Illegality of Contract Effect of US and EU Sanctions Failure to Deal With Issues Remission of Arbitral Award

Case Brief

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Parties

Soeximex SAS

Claimant / Buyers

Agrocorp International Pte Limited

Defendant / Sellers

Procedural Posture

Commercial Arbitration Challenge / Judgment on Application to Set Aside/remit Arbitral Award Under S68 Arbitration Act 1996

Legal Issues

  1. 1 Whether the arbitral tribunal failed to deal with all issues put to it under s68(2)(d) Arbitration Act 1996
  2. 2 Whether the Buyers' arguments on US and EU sanctions were properly considered
  3. 3 Whether failure to consider these arguments caused substantial injustice

Ratio Decidendi

The arbitral tribunal failed to address two material and distinct arguments advanced by the Buyers regarding the application of US and EU sanctions. This failure constituted a serious irregularity under s68(2)(d) of the Arbitration Act 1996 and caused substantial injustice, warranting remission of the award to the tribunal for reconsideration of those issues.

Court Disposition

Award remitted to arbitral tribunal for reconsideration

Orders

  • The award is remitted to the GAFTA Board of Appeal for reconsideration of the Buyers' arguments on the US and EU sanctions points.
  • Further consequential orders to be determined after hearing counsel if not agreed.