Landmark Cases

Viterra BV v Sharp Corp Limited – 2024 UKSC 14

Zaiwalla & Co represented Sharp Corp Limited, India in a dispute with Viterra BV, Netherlands regarding the correct calculation of damages under a GAFTA contract for the sale of Canadian Yellow Peas and Crimson Lentils. After Sharp defaulted on payment terms, Viterra declared a default and prevailed in two GAFTA arbitrations, securing an award of approximately US$6 million.

Zaiwalla team challenged these awards, arguing that damages should reflect the value of custom cleared goods left in seller’s hand in India rather than replicating the terms of the original sale contract.

In a landmark judgment, the UK Supreme Court upheld Sharp’s appeal, setting a precedent on how to assess damages in international sales contracts and dismissed the damages assessment adopted by two GAFTA arbitration tribunals, the UK High Court and with some variation, the UK Court of Appeal.

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