Petromec Inc v Petroleo Brasiliero SA Petrobras & Anor [2006] EWHC 1443 (Comm) (16 June 2006)

Petromec Inc v Petroleo Brasiliero SA Petrobras & Anor [2006] EWHC 1443 (Comm) (16 June 2006)

The court found that Petromec failed to establish that Petrobras made knowingly false representations or that any representations were made without honest belief. The evidence showed ongoing negotiations without a concluded agreement, and Petromec could not have lawfully prevented the Platform's departure under the contracts. No actionable deceit or negligent misstatement was established.

Citation
[2006] EWHC 1443 (Comm)
Parties
Claimant: Petromec Inc; First Defendant: Petroleo Brasiliero SA Petrobras; Second Defendant: Braspetro Oil Services Company (Brasoil)
Jurisdiction
England and Wales
Judgment Date
16 June 2006
Procedural Posture
Commercial Court Trial / Second Trial on Allegations of Deceit and Negligent Misstatement
Outcome
Claim dismissed
Legal Topics
Misrepresentation, Deceit, Negligent Misstatement, Contractual Interpretation, Good Faith Negotiations
Contract Law Tort Law Commercial Law Misrepresentation Deceit Negligent Misstatement Contractual Interpretation Good Faith Negotiations

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 3 Party arguments 2 Amounts and remedies 4
Sign in to unlock

Parties

Petromec Inc

Claimant

Petroleo Brasiliero SA Petrobras

First Defendant

Braspetro Oil Services Company (Brasoil)

Second Defendant

Procedural Posture

Commercial Court Trial / Second Trial on Allegations of Deceit and Negligent Misstatement

Legal Issues

  1. 1 Whether Petrobras made false representations to induce Petromec to allow the Platform to depart Quebec without a concluded global payment agreement
  2. 2 Whether such representations were made fraudulently (deceit) or negligently (negligent misstatement)
  3. 3 Whether Petromec suffered loss as a result of reliance on those representations

Ratio Decidendi

The court found that Petromec failed to establish that Petrobras made knowingly false representations or that any representations were made without honest belief. The evidence showed ongoing negotiations without a concluded agreement, and Petromec could not have lawfully prevented the Platform's departure under the contracts. No actionable deceit or negligent misstatement was established.

Court Disposition

Claim dismissed

Orders

  • Petromec's claims for deceit and negligent misstatement are dismissed
  • No damages awarded to Petromec