Subject of Dispute: Recovery of Debt and Penalty under a Foreign Economic Contract for Goods Supply between Ukrainian and Georgian Companies.
Main Court Arguments:
1. The court established that there is a debt under the contract between the companies, which was partially settled by an agreement on offsetting counterclaims.
2. The court deviated from previous practice regarding penalty calculation in foreign currency, pointing out the need to consider the specifics of legal relations, particularly the involvement of a non-resident.
3. The court recognized that previous court decisions have procedural and substantive deficiencies in terms of calculating and recovering penalties.
Court Decision: To cancel previous court decisions regarding penalty recovery and refer the case for a new review to the court of first instance for a detailed analysis of the circumstances of penalty accrual.
