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Date: 06.10.1994
Country: Argentina
Number: 56.179
Court: Juzgado Nacional de Primera Instancia en lo Comercial No. 10
Parties: Bermatex s.r.l. v. Valentin Rius Clapers S.A. v. Sbrojovka Vsetin S.A.
Citation: http://www.unilex.info/case.cfm?id=178
In judicial proceedings for composition before bankruptcy, the Court was called to decide on the recognizability of credits for interest on the payment of price deriving from two international sales contracts concluded by the same Argentinian buyer with, respectively, a Spanish seller and a Czech seller.

The Court firstly held that both contracts were governed by CISG, as in both cases the parties had their place of business in different contracting States.

With respect to interest accruing on the credit deriving from the performance of the first sales contract, the Court gave recognizance to the credit for interest at the rate of 24%, that is corresponding to the rate agreed upon by the parties. The Court held this on the ground that CISG, as envisaged by its Art. 6, grants the parties with the widest possibility of determining the contents of their contract.

With respect to interest accruing on the credit deriving from the performance of the second sales contract, the Court determined interest at the rate of 12%, as a rate generally recognized in international trade.

In the Court reasoning, since CISG does not determine the interest rate, reference should be made to international trade usages 'which are assigned by CISG itself a hierarchical position higher than the very same CISG provisions (Art. 9 CISG)'.