Arbitral Digest

Matter

Crédit industriel et commercial de Paris v Ferrovalbra

  1. 14 January 2003France

    14 January 2003France

    Judgment of the French Court of Cassation, Commercial, Financial and Economic Chamber dated 14 January 2003

    French Court of Cassation, Commercial, Financial and Economic Chamber

    Decision summary
    The French Court of Cassation quashed the Paris Court of Appeal judgment that had dismissed the Crédit industriel et commercial de Paris's claim against COFACE for unpaid credit claims. It held that the IRB guarantee had been automatically cancelled when Ferrovalbra stopped paying the insurance premiums, so COFACE could not require CIC to invoke that guarantee, and remitted the case to a differently composed Paris Court of Appeal.

    Supporting details

    1 authority · 2 participants
    Crédit industriel et commercial de Paris
    COFACE
    French Court of Cassation, Commercial, Financial and Economic Chamber

    Authorities cited

    1
    • French Civil Code, Article 1134
      statute
  2. Date not availableArbitration

    Date not availableArbitration

    Arbitral award recognizing CIC's claim against Ferrovalbra

    Decision summary
    The arbitral award recognized the Crédit industriel et commercial de Paris's claim against Ferrovalbra.

    Supporting details

    2 participants
    Crédit industriel et commercial de Paris
    Ferrovalbra

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Crédit industriel et commercial de Paris v Ferrovalbra · Matter