As per the buy back agreement, I had an option to pay late with interest. For my other [Q1] commitments, I didn’t have this option. So yes, I made payments where I didn’t have the option to pay late with interest.
Tr. 121:22-122:3. When asked at the hearing by Dreymoor’s counsel whether the amount paid to other sellers for Q1 purchases was similar to the amount UAB AVAgro owed Dreymoor, Mr. Mikhailova responded "Yes." Tr. 126:6. Ms. Mikailova further testified that the Q1 purchases were cargos of fertilizer, and that she had subsequently sold those cargos and used the proceeds for "other business." Tr. 235:9.
• A declaration that the Sales Contract and Amendment # 1 are binding on the parties;
• A declaration that Amendment #2 and the Repayment and Pledge Agreement are not legally binding;
• A declaration of the parties’ respective rights under the Sales Contract and Amendment #1;
• A directive that Dreymoor withdraw its January 4, January 15, and May 21, 2019 notifications to Klasco;
• A directive that Dreymoor notify Unicredit Bank AG that it does not have title to the Product;
• A directive that Dreymoor issue a warehouse receipt evidencing that UAB AVAgro has title to the Product;
• Declare that Dreymoor violated the Sales Contract and Amendment #1 by seeking interim measures in Lithuanian Court;
• Order Dreymoor to indemnify UAB AVAgro for all fees and costs associated with this arbitration; and
• Dismiss all of Dreymoor’s claims.
• The buyback price of €5,824,500;
• Financial costs of 2.25% per year on the original "purchase" amount of €5,742,00.;
• Late charge penalty of 0.02% per day (not to exceed 10% of cargo value);
• Consequential damages;
• Prejudgment interest of 9%;
• Post-judgment interest of 9%; and
• Drey moor’s legal costs.
Payment terms for the buy-back option: three business days upon receipt of the following documents:
a) Buyer’s invoice: EUR 211.80/mt x unsold tons as of November 26, 2018, plus Financial costs associated with the unsold inventory.
b) Buyer’s warehouse receipt (as per the original Unicredit Bank AG wording, transferring product’s title back to the Seller)
c) Unicredit Bank AG calculations of financial costs
Seller shall not be liable in any event, whether for failure or delay in making delivery or for breach of warranty or otherwise, in an amount exceeding the sums actually paid by Buyer to Seller for any Product with respect to which any breach for any reason is claimed.
Subject to Section 29 hereof, Buyer and Seller agree that all arbitrations, suits, actions or proceedings arising in connection with this Contract shall be brought, arbitrated, tried and/or heard exclusively in the County of New York, State of New York and, except as otherwise provided in this Section 28, each party hereto agrees that it will not bring any arbitration, suit, action or proceeding arising out of or relating to this Contract in any other jurisdiction. The aforementioned choice of venue is intended by the parties to be mandatory and not permissive in nature, thereby precluding the possibility of arbitration or litigation between the parties with respect to or arising out of this Contract in any jurisdiction other that those specified herein.
The parties agree that any controversy or claim arising out of or relating to this Contract, or the breach hereof, shall be settled by final and binding arbitration in accordance with the then current rules and procedures of the American Arbitration Association ("AAA") before a single arbitrator appointed pursuant to the aforementioned AAA rules and procedures.
AVAgro LLC consents to participate as a party to the arbitration proceedings referenced herein, while reserving its rights to raise any applicable arguments, claims and/or defenses in its Statement of Defense to Dreymoor’s "Answer, Counterclaim, Notice of Arbitration and Joinder and Demand for Security," when due.
Exhibit J-l71 (emphasis added). The Tribunal considers the underlined portion of the above email to constitute consent to this Tribunal’s jurisdiction because AVAgro LLC was agreeing to participate "as a party."
Within thirty (30) days from the date of transmittal of this Final Award to the parties, UAB AVAgro and AVAgro LLC hereinafter referred to as the Award Debtors, shall pay to Dreymoor Fertilizers Overseas Pte. Ltd., hereinafter referred to as the Award Creditor the sums of €6,211,091.06 and US$273,998.92.
The administrative fees and expenses of the International Centre for Dispute Resolution (ICDR) totaling US$37,950.00 shall be borne by the Award Debtors, and the compensation and expenses of the arbitrator totaling US$54,007.50 shall be borne by the Award Debtors. Therefore, the Award Debtors shall reimburse the Award Creditor the sum of US$65,762.50, representing that portion of said fees and expenses in excess of the apportioned costs previously incurred by the Award Creditor, upon demonstration by the Award Creditor that these incurred costs have been paid in full to the ICDR.
If the sums set forth above are not paid within thirty (30) days of the transmittal of this Final Award, then simple daily interest of 0.02% shall begin to accrue on the unpaid amounts, and continue until paid.
Within seven (7) days of receipt of the sums set forth above from one or both of the Award Debtors, the Award Creditor shall:
1. Notify Joint Stock Klaipeda Stevedoring Company that it is withdrawing its January 4, January 15, and May 21, 2019 notifications;
2. Notify Unicredit Bank AG that it does not have title to the Product; and
3. Issue a warehouse receipt to the Award Debtors evidencing that UAB AVAgro has title to the Product.
This award is in full settlement of all claims and counterclaims submitted to this Arbitration.
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