Soufflet Negoce SA v Fedcominvest Europe Sarl

Soufflet Negoce SA v Fedcominvest Europe Sarl

The deemed notice provision in clause 19 of GAFTA 64 applies only in cases of resales/repurchases, not to all contracts, based on the natural reading of the clause, its structure, and the commercial context of GAFTA contracts.

Source-derived case information.

Parties
Claimant: Soufflet Negoce SA; Defendant: Fedcominvest Europe SARL
Jurisdiction
England and Wales
Judgment Date
18 July 2014
Procedural Posture
Appeal / Judgment
Outcome
appeal dismissed; award upheld
Legal Topics
Contract Interpretation, Notices Clause, GAFTA Standard Forms, Arbitration Award Challenge
Commercial Law Arbitration Contract Interpretation Notices Clause GAFTA Standard Forms Arbitration Award Challenge

Source-derived case record

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Parties

Soufflet Negoce SA

Claimant

Fedcominvest Europe SARL

Defendant

Procedural Posture

Appeal / Judgment

Legal Issues

  1. 1 Whether the deemed notice provision in clause 19 of GAFTA 64 applies to all contracts or only in case of resales/repurchases

Ratio Decidendi

The deemed notice provision in clause 19 of GAFTA 64 applies only in cases of resales/repurchases, not to all contracts, based on the natural reading of the clause, its structure, and the commercial context of GAFTA contracts.

Court Disposition

appeal dismissed; award upheld

Orders

  • Counsel to draft order for approval and agree consequential matters; court will address any outstanding matters if not agreed