Discussion clauses — court may force a friendly discussion

Emirates Trading Agency LLC v Prime Mineral Exports Private Limited [2014] EWHC 2104 (Comm)

  • Emirates Trading Agency (Emirates) agreed to buy iron ore from Prime Mineral Exports (PME) but failed to collect all the order.
  • PME claimed liquidated damages of $1.5m (£892,800).
  • Following a similar experience the next year, PME terminated the contract and claimed liquidated damages of $45m, threatening arbitration if not paid within 14 days.
  • Six months later an arbitration was commenced by PME.
  • The parties had conducted several discussions (both prior to and after termination) with Emirates seeking to get PME to withdraw the termination, without a resolution…

Click on the link below to read the rest of the Eversheds briefing.

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