Even though a debt under commercial washout agreements between the parties was acknowledged, it was not enforceable in the context of unrelated arbitration awards between the parties. The non-payment of the washout agreement invoices created a dispute which had to be dealt with under GAFTA form 64 clause 11.
Times 12-Jul-1999, Gazette 11-Aug-1999, [1999] EWCA Civ 1731, [1999] 2 All ER 288
Arbitration Act 1950
England and Wales
Cited by:
Cited – Benford Ltd and Another v Lopecan Sl QBD 30-Jul-2004
The parties disputed the coverage agreed under a distribution agreement.
Held: ‘The counterclaim operated as a defence by way of set off. In order to establish that defence the defendant will have to prove the losses pleaded . . . Until the . .
These lists may be incomplete.
Updated: 14 June 2021; Ref: scu.146646