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CISG-online number
7028
Case name
Ponte Vecchio Beheer B.V. v. DST Global Solutions (Realty) Limited
Jurisdiction
Netherlands
Court
Parket bij de Hoge Raad (Advocate General at the Dutch Supreme Court)
Judge
S.D. Lindenbergh (Advocate General)
Date of decision
31 May 2024
Case nr./docket nr.
23/02925
CISG applicable
no – the present decision merely refers to the CISG in interpreting other rules of law
(Domestic) law applied in addition
Dutch law
Key CISG provisions interpreted
Art. 74
CISG provisions also cited
Art. 2(d)
This decision cites the following other CISG-online cases 4
This decision cites the following CISG-AC Opinion 1
European Case Law Identifier (ECLI)
ECLI:NL:PHR:2024:564
Full text of decision 1
by Ulrich G. Schroeter
The present opinion of the Advocate General at the Dutch Supreme Court does not deal with a CISG transaction, but with the recoverability of losses resulting from declining currency exchange rates under Dutch domestic law. The provision on point is Art. 6:125(1) of the Dutch Civil Code (NBW). It reads (in translation):
"Article 6:119 leaves unimpaired the right of the creditor to claim a compensation for loss suffered because, after the day on which the debtor became liable for damages, the exchange rate of the currency specified by the obligation has changed in comparison to the currency of one or more other countries."
In interpreting Art. 6:125(1) of the Dutch Civil Code, the Advocate General inter alia refers to Art. 74 CISG as interpreted by CISG Advisory Council Opinion No. 6 (in para. 60 of the present opinion), alongside the approach to exchange rate losses taken in other international instruments (as the European Convention on Foreign Money Liabilities of 11 December 1967, UNIDROIT Principles of International Commercial Contracts 2016, the Principles of European Contract Law and the Draft Common Frame of Reference, in paras. 56–59 of the present opinion). It furthermore cites CISG case law dealing with exchange rate losses under the Sales Convention (in paras. 60 and 73 of the present opinion).