BUNGE SA v NIDERA BV (THE "UNION POWER")

[2013] Lloyd's Rep Plus 29

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr Justice Hamblen

Sale of goods (fob) - Contract for sale of milling wheat fob Novorossiysk - Russian Government issuing export ban - Whether sellers entitled to cancel contract - Whether cancellation constituted wrongful repudiation of contract - GAFTA Prohibition Clause - Whether sellers entitled to nominal damages only - GAFTA Default Clause - GAFTA 49.