Urangesellschaft GmbH v Nynco Trading LTD - International Court of Arbitration of the International Chamber of Commerce Ref No 23069-GR - Final Award - 1 February 2021
Country
Year
2021
Summary
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XI. DISPOSITIVE SECTION OF THIS FINAL AWARD
414. In view of the foregoing, the Sole Arbitrator declares and decides as follows:
I. Respondent is in breach of its obligations under the U/N Contract to fully pay Claimant for the U308 delivery of June 2016;
II. Respondent is in breach of its obligation under the U/N Contract to purchase the remaining quantity of U308 to be delivered between 2016 and 2019;
III. The U/N Contract is avoided for the future;
IV. Respondent is ordered to pay USO 3'556'862.48 to Claimant corresponding to the outstanding amount owed to Claimant for the U308 delivery of June 2016;
V. Respondent is ordered to pay to Claimant delay interest on USD 3'556'862.48 at the rate of 3.3289% per annum for the period going from 19 July 2016 to the date of this Final Award, i.e. USD 537'847.91;
VI. Respondent is ordered to pay USD 1 '793'872.32 to Claimant for the damages suffered due to the non-performance of its undertakings for the deliveries for the years 2016-2019;
VII. Respondent shall reimburse to Claimant EUR 115'000 corresponding to a portion of the legal fees and expenses incurred by Claimant in the second phase of the arbitration;
VIII. Respondent shall reimburse to Claimant USD 57'080 corresponding to a portion of Claimant's payment to the ICC towards the advance on arbitration costs, which have been fixed by the ICC at USD 285'400;
IX. All other requests, claims, counterclaims and/or relief sought by Claimant and Respondent are dismissed.
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OCR errors may be present.