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33. Case No.(Red) 14/2561
The Arbitral Tribunal have determined the issues of dispute as follows :

After taking examination, the Sale and Purchase Agreement of Condominium Unit at the
price of THB. 85,000,000 was concluded and acknowledged by both Parties. Payments of the purchase

price of the Unit in the amount of THB. 85,000,000 were to be made in installments based on the
progress of the construction and delivery of the unit pursuant to Clause 3 of the Agreement. This

payment term was subsequently amended in a Memorandum of Agreement to buy and sell
Condominium Unit dated November 2007, or the MOU. It was undisputed that the initial payment of

the aggregate sum of THB. 55,000,000 was made to, and received by the Respondent in full, in
accordance with the terms of the Agreement and the MOU. The last installment of THB. 30,000,000 was
not paid to the Respondent because the Respondent did not complete the construction and fit out of

the Unit, nor transfer the title to the Unit within the time stipulated in the Agreement. It was argued by
the Claimant that the Respondent was in no position to terminate the Agreement, and proceeded in

direct breach of the Contract with the Claimant to sell the Unit to a third party without reimbursement
to the Claimant of the purchase price initially paid by the Claimant in the amount of THB. 55,000,000.

The Respondent contended that the Claimant was in default of payment and failed to take the transfer
of the Unit. This contention appeared unsupported by any evidence, documentary or personal

statement of any witness. The Claimant claimed that the Respondent wrongfully and invalidly purported
to terminate the Sale and Purchase Agreement, and wrongfully and invalidly purported to sell the Unit

to a third party, without any intention to return the past payment already made by the Claimant and
duly received by the Respondent.

Award

It follows that without final implementation of the original Sale and Purchase Agreement
of Unite 33 A. of the condominium, the sum of THB. 55,000,000 must be returned to the Claimant,
whether in the form of repayment, refund or reimbursement.

Secondly, also the sum of THB. 8,500,000, being ten percent of the original sale price of
the condominium Unit as agreed upon between the Claimant and the Respondent, for delay in the
construction, must be paid by the Respondent to the Claimant, as maximum limit of the liquidated