Commodities in Focus Weekly - Issue 73
Ayhan Sezer Yag ve Gida Endustrisi Ticaret Ltd Sirket v Agroinvest SA – London Circuit Commercial Court clarifies meaning of "date of default" under GAFTA Default clause for anticipatory repudiatory breach
On 5 March 2024 the London Circuit Commercial Court handed down judgment in Ayhan Sezer Yag ve Gida Endustrisi Ticaret Ltd Sirket v Agroinvest SA [2024] EWHC 479 (Comm), finding, among other things, that, in the case of an anticipatory repudiatory breach, the "date of default" in clause 23(c) ("Default") of Gafta Contract No. 100, was the date of breach by the defaulting party.
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