Huntsman v Qenos & Anor [2005] NSWSC 494

Huntsman v Qenos & Anor [2005] NSWSC 494

The change in the methodology for calculating the NTCP after January/February 2001 did not result in a change in the NTCP as it stood in December 1998, nor was any such change material. The NTCP also did not cease to reflect the US Gulf Coast contract price for ethylene to the extent or with the approximation it did at the contract date.

Parties
Plaintiff: Huntsman Corporation Australia Pty Ltd; First Defendant: Qenos Pty Ltd; Second Defendant: Olefines Pty Ltd
Jurisdiction
Australia
Judgment Date
03 June 2005
Procedural Posture
Commercial List Proceeding / Judgment After Separate Determination of Selected Issues
Outcome
Huntsman Australia's case on the pleaded issues was not made out. Proceedings to be dismissed with costs, subject to any subsequent submissions by the parties within 14 days.
Legal Topics
Contract Construction, Pricing Indices, Expert Evidence, Change in Methodology, Material Change, Estoppel by Convention
Contract Law Commercial Law Contract Construction Pricing Indices Expert Evidence Change in Methodology Material Change Estoppel by Convention

Case Brief

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Parties

Huntsman Corporation Australia Pty Ltd

Plaintiff

Qenos Pty Ltd

First Defendant

Olefines Pty Ltd

Second Defendant

Procedural Posture

Commercial List Proceeding / Judgment After Separate Determination of Selected Issues

Legal Issues

  1. 1 Did the change in the methodology for deriving the NTCP result in a material change in the NTCP as used in the supply agreement?
  2. 2 Did the NTCP cease to reflect the US Gulf Coast contract price for ethylene after February 2001?

Ratio Decidendi

The change in the methodology for calculating the NTCP after January/February 2001 did not result in a change in the NTCP as it stood in December 1998, nor was any such change material. The NTCP also did not cease to reflect the US Gulf Coast contract price for ethylene to the extent or with the approximation it did at the contract date.

Court Disposition

Huntsman Australia's case on the pleaded issues was not made out. Proceedings to be dismissed with costs, subject to any subsequent submissions by the parties within 14 days.

Orders

  • Matter stood over for parties to bring in orders reflecting the reasons or make submissions on orders and costs within 14 days from judgment.