Case introduction
199465438+February 14, China sugar liquor group company (hereinafter referred to as China sugar group), ED &；; F Mann (Hong Kong) Co., Ltd. (hereinafter referred to as Mann Company) signed the 8008 contract, stipulating that Mann Company will sell raw sugar to China Sugar Group, and the sales will be divided into two parts. Both parties agree that all disputes arising from the contract will be submitted to the London Sugar Association for arbitration in accordance with the regulations of the London Sugar Association, and the execution of the contract shall comply with the regulations of the London Sugar Association, regardless of whether the buyer and the seller are members or member representatives. The first part has been completed and there is no objection. The two sides had an argument about the performance of the second film. It turned out that MF Global opened an account for the 8008 contract in the new york futures market, speculating on the futures of 654.38+ 10,000 tons of raw sugar. China Sugar Group is well aware of this, profiting from it by collecting MF Global's remuneration or lowering commodity prices, and directly participating in futures trading by entrusting MF Global's trading agent. China Sugar Group did not open the letter of credit as agreed, and Mann Company did not actually deliver the goods. Mann Company sent a fax to China Sugar Group on1October 26th,1999,65438, claiming that the 8008 contract was terminated.
Man Company filed an arbitration with the London Sugar Association, demanding that China Sugar Group compensate for the difference between the contract price and the market price. On August 6th, 20001year, the London Sugar Association made a ruling. Ruling: 1. Nave Group paid Man $65,438+0,465,438+0,625.05 as compensation and interest of $2,508,533.70 for violating the 8008 contract. 2. Pay interest at the annual rate of 4.5% of the unit price based on the payment of 1667 1038.70 USD by China Sugar Group to Mann Company until it is paid off; 3. China Sugar Group pays the relevant ruling fees. 4. China Sugar Group shall pay the arbitration fee to Man Company according to the standard assessment.
65438 filed an application for recognition and enforcement with Beijing No.1 Intermediate People's Court on October 22nd, 2002, and Beijing No.1 Intermediate People's Court filed a case on February 20th, 2002. According to article 5, paragraph 2 (b) of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards on March 1 2002: "The recognition or enforcement of the award will conflict with the public order of the country, and the competent authorities of the respondent country may also refuse to recognize and enforce it." Reject Mann's application and file an application for refusing to recognize and enforce the arbitration award of the London Sugar Association.