12 Jul 1999
GLENCORE INTERNATIONAL A.G. v. BRIGHT CHINA INTERNATIONAL LTD. AND OTHERS
- Citation
- GLENCORE INTERNATIONAL A.G. v. BRIGHT CHINA INTERNATIONAL LTD. AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCL166/1997
On these facts the court held Glencore proved its claim against Bright China for US$336,251.84 with interest, but Glencore was not entitled to exercise an unpaid-seller's lien over the 250 bundles because property and effective negotiation had passed and the letters of credit/negotiation constituted de facto transfer/pledge; Keen Lloyd breached the July contract and is liable to Glencore for US$747,230.17; Keen Lloyd is entitled to the sale proceeds then standing in Court and an additional US$52,327.82; Keen Lloyd's restitutionary claim for overpayments under forged contracts is dismissed bec…