RESOLUTION OF THE SUPREME ECONOMIC COURT OF THE REPUBLIC OF UZBEKISTAN

of December 19, 2005 No./3765

(extraction)

When the seller does not fulfill duty on transfer of prepaid goods and other is not provided by the purchase and sale agreement on advance payment amount percent according to Articles 256 and 327 of RUZ Group from the date of are subject to payment when under the agreement transfer of goods be made about day of transfer of goods to the buyer or return to it of the amount which is previously paid to them.

B LLC appealed to economic court with the action for declaration to the defendant of the BSF of "M" about collection of 5897561 bags constituting the amount of principal debt in the amount of 4000000 bags, bank interests for use of others money of 847562 bags, penalties in the amount of 200000 bags and losses (expenses) for the rendered legal services - 850000 bags. Before adoption of the decision by court the defendant declared the counter action collection from the claimant of 2730000 bags.

The claim is satisfied with the judgment partially. The principal debt of 4000000 bags, 847562 bags - bank interests, 850000 bags expenses for the rendered legal services is recovered from the defendant. Satisfaction of the demand in reconvention to the defendant it is refused.

The decision is changed by the resolution of appellate instance. The decision regarding collection of the amount of 850000 bags is cancelled. Satisfaction of this part of the claim it is refused. In other part the decision is left without change.

Without having agreed with the court resolutions which took place on case, the claimant and the defendant appealed to the Supreme Economic Court with writs of appeal. The claimant in the claim asks to leave resolution of the Trial Court without change, and the defendant asks to refuse to the claimant the claim completely, and the demand in reconvention to satisfy.

Judicial board, having studied case papers, having discussed arguments of writs of appeal, finds that the plaintiff's application is reasonable, and the claim of the defendant is subject to variation on the following bases:

As it is seen from case papers, on March 27, 2004 between the claimant (buyer) and the defendant (seller) the purchase and sale agreement of 10 reservoirs from stainless steel at the price of 2000000 bags, on only 20000000 bags is signed.

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