Bunge SA v Nidera BV – Supreme Court (Lord Neuberger PSC, Lord Mance, Lord Clarke, Lord Sumption and Lord Toulson JJSC) [2015] UKSC 43 – 1 July 2015

Sale of goods – 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

The claimant sellers agreed to sell a quantity of milling wheat to the defendant buyers fob Novorossiysk. The contract incorporated GAFTA 49 and the contractual delivery period was 23 to 30 August 2010.