Sometimes Arbitration and Litigation require patience and commitment to the cause!
In March 2020, a commodity trader client of IY Legal entered into a coal sale/purchase agreement with an Indian buyer for a 50,000 mts shipment of Steam Coal. Before shipment the market moved against the Buyer and it defaulted, claiming that no contract was ever formed and force majeure. London Arbitration proceedings followed and in August 2021, our clients obtained a damages Award against the Buyer for breach of contract.
The Buyer then applied to challenge the jurisdiction of the Tribunal under section 67 of the Arbitration Act and in due course the Commercial Court head that application orally at an effective re-trial. Again, our clients prevailed and the Award was confirmed.
The Tribunal then heard costs submissions and eventually published a Costs Award in our clients’ favour.
Despite that – an Award confirmed by the Commercial Court – the Buyer refused to pay.
We, therefore, embarked upon enforcement proceedings before the Indian High Court in respect of both Awards relying on the New York Convention. The enforcement action involved multiple challenges to jurisdiction/the Awards by the Buyer before various courts; even an ex-parte application to the Indian Supreme Court which was dismissed.
This week – almost 6 years since the original contract was formed – the Buyer capitulated and paid. The Buyer is exposed to the Award sums plus considerable interest.
India is a notoriously slow and tricky jurisdiction in which to enforce an Award, despite being a signatory to the New York Convention. Nevertheless, our clients’ desire not to give up and IY Legal’s determination to get them paid, prevailed in the end.
'Arbitration Advisers of the Year' 2021
Global Business Magazine
Shipping & Trade Firm of the Year in England 2020
Global Law Experts Annual Awards“[Iyer is] an extraordinarily fine lawyer with the full portfolio of skills, from negotiating contracts to claims, disputes and arbitrations - he’s the whole package!”
From 'Chambers Guide to the Legal Profession' while Andrew Iyer was practising as a solicitor“Sharp, to the point and efficient. [Iyer] responds with electrifying speed and is always contactable”
From 'The Legal 500' while Andew Iyer was practising as a solicitor“[Iyer] has the experience to instantly recognise the problems being encountered and the professional expertise to always provide sound, concise and, most importantly, clear legal advice”
From the 'International Law Office, Client Choice Guide' while Andew Iyer was practising as a solicitorEnergy & Natural Resources Law Expert of the Year in England 2020
Leaders in Law Global Awards“an extraordinarily fine lawyer with the full portfolio of skills, from negotiating contracts to claims, disputes and arbitrations - he’s the whole package!”
From 'Chambers Guide to the Legal Profession' while Andrew Iyer was practising as a solicitor“[Iyer] is very cost effective, efficient and proactive - he takes the initiative in speeding up recalcitrant opponent lawyers to the negotiating table”
From the 'International Law Office, Client Choice Guide' while Andew Iyer was practising as a solicitor'Shipping & Trade Firm of the Year in England' 2023
Corporate Intl Magazine Global Awards'Leading Arbitration Specialist UK' 2022
AI Global Excellence AwardsWinner of the International Law Office 'Client Choice Award for Energy & Natural Resources UK'
While Andrew Iyer was practising as a solicitor“[Iyer is] one of the most experienced energy lawyers that I have come across. His energy practice has a unique offshore flavour which suits our requirements”
From the 'International Law Office, Client Choice Guide' while Andrew Iyer was practising as a solicitor'Energy & Natural Resources Firm of the Year in England' 2023
Corporate Intl Magazine Global Awards“Iyer has a deep understanding of international markets and an impressive track record in arbitration and commercial disputes”
From 'Chambers Guide to the Legal Profession' while Andrew Iyer was practising as a solicitor“Andrew Iyer continues to glean high praise from clients”
From 'The Legal 500' while Andrew Iyer was practising as a solicitor
