Moeve Trading SAU v Mael Trading FZ LLC

Moeve Trading SAU v Mael Trading FZ LLC

Seller is entitled to summary judgment for the price as title in the cargo passed to buyer, buyer failed to pay, and contractual terms do not discharge buyer's obligation by mere issue of letters of credit; tender of documents was sufficient and obligations are concurrent. Demurrage counterclaim survives only as to...

Source-derived case information.

Parties
Claimant: Moeve Trading S. A. U. (Formerly CEPSA Trading SAU); Defendant: Mael Trading FZ LLC
Jurisdiction
England and Wales
Judgment Date
15 January 2026
Procedural Posture
Commercial Claim / Summary Judgment Application
Outcome
Summary judgment granted for seller's claim for price; buyer's application for stay dismissed; buyer's counterclaim for loss of profit dismissed; demurrage counterclaim to proceed to trial.
Legal Topics
Letters of Credit, Payment Obligations, Demurrage, Summary Judgment, Set Off, Tender of Documents
Commercial Law International Sale of Goods Contract Law Letters of Credit Payment Obligations Demurrage Summary Judgment Set Off +1 more

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Parties

Moeve Trading S. A. U. (Formerly CEPSA Trading SAU)

Claimant

Mael Trading FZ LLC

Defendant

Procedural Posture

Commercial Claim / Summary Judgment Application

Legal Issues

  1. 1 Whether the issue of confirmed letters of credit discharged the buyer's payment obligation
  2. 2 Whether buyer's liability to pay the price arises only upon tender of original bills of lading
  3. 3 Whether seller is entitled to summary judgment for the price

Ratio Decidendi

Seller is entitled to summary judgment for the price as title in the cargo passed to buyer, buyer failed to pay, and contractual terms do not discharge buyer's obligation by mere issue of letters of credit; tender of documents was sufficient and obligations are concurrent. Demurrage counterclaim survives only as to demurrage, not loss of profit.

Court Disposition

Summary judgment granted for seller's claim for price; buyer's application for stay dismissed; buyer's counterclaim for loss of profit dismissed; demurrage counterclaim to proceed to trial.

Orders

  • Seller awarded US$13,031,741.54 against buyer.
  • Stay of execution refused.