Contigroup Companies Inc v Glencore AG

Contigroup Companies Inc v Glencore AG

Glencore is entitled to set off the sum of US$172,899.67 against Contichem’s claim, as there was no available market for substitute butane, the settlement with Petrochina was reasonable and solely referable to delay, and such loss was within the contemplation of the parties.

Parties
Claimant: Contigroup Companies, Inc.; Defendant: Glencore A.G.
Jurisdiction
England and Wales
Judgment Date
25 November 2004
Procedural Posture
Commercial Contract Dispute / Judgment After Trial
Outcome
Set-off allowed; judgment for Glencore on the counterclaim to the extent of the settlement amount.
Legal Topics
Damages for Late Delivery, Measure of Damages, Set Off, Available Market, Reasonableness of Settlement
Contract Law Commercial Law Damages for Late Delivery Measure of Damages Set Off Available Market Reasonableness of Settlement

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Parties

Contigroup Companies, Inc.

Claimant

Glencore A.G.

Defendant

Procedural Posture

Commercial Contract Dispute / Judgment After Trial

Legal Issues

  1. 1 Whether Glencore is entitled to set off damages for late delivery against Contichem's claim for the price of butane
  2. 2 Whether there was an available market for substitute butane
  3. 3 Whether the settlement between Glencore International and Petrochina was reasonable and referable to delay

Ratio Decidendi

Glencore is entitled to set off the sum of US$172,899.67 against Contichem’s claim, as there was no available market for substitute butane, the settlement with Petrochina was reasonable and solely referable to delay, and such loss was within the contemplation of the parties.

Court Disposition

Set-off allowed; judgment for Glencore on the counterclaim to the extent of the settlement amount.

Orders

  • Glencore entitled to set off US$172,899.67 against Contichem’s claim for the price of Lot 2.