Libero Commodities S.A. v Augustin [2015] EWHC 1815 (Comm) (24 June 2015)

Libero Commodities S.A. v Augustin [2015] EWHC 1815 (Comm) (24 June 2015)

Payment of the ICA application fee was not a precondition to valid commencement of arbitration under Bylaw 302; the written request sufficed. Clause 15.10 of the Sale Contract displaced Rule 224 to the extent that, in the absence of a valid Seller's call, price fixation was to be at Buyer's call. The TAC failed to determine whether the Buyer's fixation was valid; this issue must be remitted for reconsideration.

Citation
[2015] EWHC 1815 (Comm)
Parties
Claimant: Libero Commodities S. A.; Defendant: Alexandre Augustin
Jurisdiction
England and Wales
Judgment Date
24 June 2015
Procedural Posture
Commercial Arbitration Appeal / High Court Appeal From ICA Technical Appeal Committee Award
Outcome
Award upheld in relation to arbitration commencement; pricing issue remitted to TAC for reconsideration.
Legal Topics
Commencement of Arbitration, Contractual Price Fixation, Interpretation of Arbitral Rules
Arbitration Commercial Law Commencement of Arbitration Contractual Price Fixation Interpretation of Arbitral Rules

Case Brief

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Parties

Libero Commodities S. A.

Claimant

Alexandre Augustin

Defendant

Procedural Posture

Commercial Arbitration Appeal / High Court Appeal From ICA Technical Appeal Committee Award

Legal Issues

  1. 1 Whether arbitration under ICA Bylaw 302 is validly commenced without payment of the application fee
  2. 2 Whether the contractual fixation clause displaces ICA Rule 224 default provisions

Ratio Decidendi

Payment of the ICA application fee was not a precondition to valid commencement of arbitration under Bylaw 302; the written request sufficed. Clause 15.10 of the Sale Contract displaced Rule 224 to the extent that, in the absence of a valid Seller's call, price fixation was to be at Buyer's call. The TAC failed to determine whether the Buyer's fixation was valid; this issue must be remitted for reconsideration.

Court Disposition

Award upheld in relation to arbitration commencement; pricing issue remitted to TAC for reconsideration.

Orders

  • Remit pricing issue to ICA Technical Appeal Committee to determine validity of Buyer's price fixation and consequences if invalid.