Cargill International Trading Pte Ltd v Uttam Galva Steels Ltd
The Seller's defences based on the prevention principle and estoppel by convention have no real prospect of success due to the express contractual terms requiring repayment regardless of any breach by the Buyer, and the absence of any enforceable common assumption obliging the Buyer to renew facilities.
- Parties
- Claimant: Cargill International Trading Pte Ltd; Defendant: Uttam Galva Steels Limited
- Jurisdiction
- England and Wales
- Judgment Date
- 09 November 2018
- Procedural Posture
- Commercial Claim / Summary Judgment Application
- Outcome
- Summary judgment granted for the Claimant
- Legal Topics
- Summary Judgment, Advance Payment Agreements, No Set Off Clauses, Estoppel by Convention, Prevention Principle
Case Brief
Summary, issues, holding and outcome
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Parties
Cargill International Trading Pte Ltd
Claimant
Uttam Galva Steels Limited
Defendant
Procedural Posture
Commercial Claim / Summary Judgment Application
Legal Issues
- 1 Whether the Seller has a real prospect of defending the claim for repayment under Advance Payment and Steel Supply Agreements
- 2 Whether the prevention principle or estoppel by convention can defeat the Buyer's claim for repayment
Ratio Decidendi
The Seller's defences based on the prevention principle and estoppel by convention have no real prospect of success due to the express contractual terms requiring repayment regardless of any breach by the Buyer, and the absence of any enforceable common assumption obliging the Buyer to renew facilities.
Court Disposition
Summary judgment granted for the Claimant
Orders
- Seller to pay US$61.8 million to Buyer
- Interest to be determined
Full Case Text
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