Libero Commodities S.A. v Augustin

Libero Commodities S.A. v Augustin

Payment of the ICA arbitration fee was not a precondition to valid commencement of arbitration under Bylaw 302; the written request sufficed. Clause 15.10 of the Sale Contract ousted 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 validity of the Buyer’s price fixation was not determined by the TAC and must be remitted for decision.

Parties
Claimant: Libero Commodities S. A.; Defendant: Alexandre Augustin
Jurisdiction
England and Wales
Judgment Date
24 June 2015
Procedural Posture
Commercial Arbitration Appeal / Judgment on Appeal From Arbitral Award
Outcome
Appeal dismissed in part; Award upheld on commencement issue; pricing issue remitted to arbitral tribunal
Legal Topics
Commencement of Arbitration, Interpretation of Arbitral Rules, Contractual Price Fixation, Remission to Arbitral Tribunal
Arbitration Commercial Law Commencement of Arbitration Interpretation of Arbitral Rules Contractual Price Fixation Remission to Arbitral Tribunal

Case Brief

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Parties

Libero Commodities S. A.

Claimant

Alexandre Augustin

Defendant

Procedural Posture

Commercial Arbitration Appeal / Judgment on Appeal From Arbitral Award

Legal Issues

  1. 1 Whether payment of the ICA arbitration fee is a precondition to valid commencement of arbitration under Bylaw 302
  2. 2 Whether the contractual price fixation clause displaces ICA Rule 224 default provisions

Ratio Decidendi

Payment of the ICA arbitration fee was not a precondition to valid commencement of arbitration under Bylaw 302; the written request sufficed. Clause 15.10 of the Sale Contract ousted 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 validity of the Buyer’s price fixation was not determined by the TAC and must be remitted for decision.

Court Disposition

Appeal dismissed in part; Award upheld on commencement issue; pricing issue remitted to arbitral tribunal

Orders

  • Award remitted to the Technical Appeal Committee of the ICA to determine whether there was a valid Buyer’s price fixation and, if not, the consequences thereof.