Trader Takes Arbitration Award Loss to 2nd Circuit

Law360 featured New York Partner Hunter Carter in an article highlighting his work with Cooperative Agraria Industrial Naranjillo, a Peruvian cocoa cooperative.  On September 26^th, a US District Court decided to liberate the cooperative from a $2.6 million arbitral award brought on by commodity trader, Transmar Commodity Group Ltd.   Now, Transmar is challenging that decision and has filed its notice of appeal with the 2^nd Circuit Court.

“We are confident the Second Circuit will agree with the very well-reasoned opinion by Judge Stanton that ruled no agreement to arbitrate was created by Transmar’s customized purchase forms — which were silent about any agreement to arbitrate and which confusingly attempted to incorporate terms that were never communicated to Naranjillo,” said Arent Fox LLP Partner Hunter Carter. “Transmar’s forms simply fail the relevant test of the UN Convention on the International Sales of Goods.”

To read the full article, click here.