- Russian Federation
- Arbitrazh court of Kostroma region
DISPUTE BETWEEN TWO RUSSIAN PARTIES - REFERENCE TO UNIDROIT PRINCIPLES TO INTERPRET AND SUPPLEMENT THE APPLICABLE DOMESTIC LAW (RUSSIAN LAW)
DETERMINATION OF AMOUNT OF DAMAGES WITH A SUFFICIENT DEGREE OF CERTAINTY NOT POSSIBLE - COURT EMPOWERED TO MAKE EQUITABLE QUANTIFICATION OF HARM SUSTANIED - REFERENCE TO ARTICLE 7.4.3(3) OF UNIDROIT PRINCIPLES
In a dispute between two Russian entities in which the amount of the damages to be paid by the non-performing party could not be established with a sufficient degree of certainty, the Court made an equitable quantification of the harm sustained by the aggrieved party, and in support of its decision the Court referred not only to Russian law but also to Article 7.4.3(3) of the UNIDROIT Principles.