“We welcome this ruling with great satisfaction. (…) Cerealcom remains a trustworthy partner,” said Mihai Anghel, general manager of Cerealcom Dolj.
The tribunal concluded the Saudi firm breached the contract sealed with the Romanian producer in relation to obligations for 2024 and 2025 harvests, as well as those related to the advance payment for the 2023 harvest. At the same time, it found Cerealcom did not breach the contract and hence had the right to suspend deliveries as a result of these non-payments, a reason why the Saudi firm decided to terminate the contract.
Those the tribunal decision can be appealed, Cerealcom has the right to immediately initiate legal procedures to set the amount of financial compensation for the damage suffered as a result of the breaches committed by the Saudi firm.
In this arbitrage procedure, Cerealcom Dolj was assisted by a consortium made up of London firm Mishco de Reya and Reff & Asociatii | Deloitte Legal.
(English version by Catalina Apostoiu)