Olam Global Agri Pte Ltd v Holbud

On a s.69 Arbitration Act 1996 appeal in a GAFTA commodity sale, an innocent party claiming substantial damages for the other's repudiation/wrongful force majeure declaration must still prove its loss and ability/readiness to perform, and damages will be reduced where the contract vessel obtained alternative employment before expiry of the relevant period; strict contractual timing (e.g. GAFTA 49 Clause 6 on vessel substitution) is enforced.