Vitol SA v Beta Renowable Group SA (Rev 1) [2017] EWHC 1734 (Comm) (07 July 2017)
Beta was in renunciatory breach; Vitol did not accept breach by non-nomination but did by notice of 7 July 2016. Vitol's obligation to nominate was not a condition precedent given Beta's admitted inability to perform. Damages awarded on market value basis, not hedging losses.
- Citation
- [2017] EWHC 1734 (Comm)
- Parties
- Claimant: Vitol S.A.; Defendant: Beta Renowable Group S.A.
- Jurisdiction
- England and Wales
- Judgment Date
- 07 July 2017
- Procedural Posture
- Commercial Contractual Dispute / Post Trial Judgment
- Outcome
- Judgment for claimant
- Legal Topics
- Breach of Contract, FOB Contracts, Damages, Condition Precedent, Hedging Losses, Market Value Damages
Case Brief
Summary, issues, holding and outcome
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Parties
Vitol S.A.
Claimant
Beta Renowable Group S.A.
Defendant
Procedural Posture
Commercial Contractual Dispute / Post Trial Judgment
Legal Issues
- 1 Whether Beta was in repudiatory/renunciatory breach of contract
- 2 Whether Vitol accepted Beta's breach by failing to nominate a vessel
- 3 Whether Vitol's obligation to nominate was a condition precedent to Beta's obligation to deliver
Ratio Decidendi
Beta was in renunciatory breach; Vitol did not accept breach by non-nomination but did by notice of 7 July 2016. Vitol's obligation to nominate was not a condition precedent given Beta's admitted inability to perform. Damages awarded on market value basis, not hedging losses.
Court Disposition
Judgment for claimant
Orders
- Beta to pay Vitol US$351,830.25 in damages
- Parties to agree supplementary matters including interest and costs
Full Case Text
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