Thai Maparn Trading Co Ltd v Louis Drefyus Commodities Asia Pte Ltd

Thai Maparn Trading Co Ltd v Louis Drefyus Commodities Asia Pte Ltd

Short notice of vessel ETA did not invalidate the buyers' nomination under the contract; the sellers' unequivocal statements of unavailability of cargo constituted anticipatory repudiation, entitling the buyers to accept the repudiation and claim damages assessed at the date of default as per GAFTA 120 clause 23.

Parties
Claimant: Thai Maparn Trading Co Ltd; Defendant: Louis Drefyus Commodities Asia Pte Ltd
Jurisdiction
England and Wales
Judgment Date
04 October 2011
Procedural Posture
Commercial Arbitration Appeal / Judgment on Appeal Under Section 69 of the Arbitration Act 1996
Outcome
Appeal dismissed
Legal Topics
FOB Contracts, Repudiation, Damages Assessment, Notice Requirements, GAFTA Contracts
Commercial Law Arbitration FOB Contracts Repudiation Damages Assessment Notice Requirements GAFTA Contracts

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Parties

Thai Maparn Trading Co Ltd

Claimant

Louis Drefyus Commodities Asia Pte Ltd

Defendant

Procedural Posture

Commercial Arbitration Appeal / Judgment on Appeal Under Section 69 of the Arbitration Act 1996

Legal Issues

  1. 1 Whether short notice of vessel ETA under FOB contract invalidates buyer's nomination
  2. 2 Whether seller's rejection of nomination and statement of unavailability of cargo constitutes repudiation
  3. 3 Proper date for assessment of damages under GAFTA 120 clause 23

Ratio Decidendi

Short notice of vessel ETA did not invalidate the buyers' nomination under the contract; the sellers' unequivocal statements of unavailability of cargo constituted anticipatory repudiation, entitling the buyers to accept the repudiation and claim damages assessed at the date of default as per GAFTA 120 clause 23.

Court Disposition

Appeal dismissed

Orders

  • Appeals against both arbitration awards are dismissed.