20 Aug 2024
ORIN ENERGY INVESTMENTS LTD FUTURA ASIA LIMITED (NO.SYARIKAT HONG KONG 2485758)
- Citation
- WA-27NCC-17-03/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-27NCC-17-03/2021 (Mahkamah Tinggi)
On the facts the Court found Orin Energy knew the Fuel Oil was Venezuelan-origin; the cargo was not treated as blocked/sanctioned for these non-US parties because OFAC designation and the blocking effects relevantly require possession/control by a US person or an OFAC designation; BP GTC Section 71 was therefore not triggered; Futura did not misrepresent or induce breach; Orin Energy breached the Sales Contract by failing to pay/take delivery and is liable for the unpaid balance, demurrage and port costs; Plaintiff's claims dismissed and Defendant's counterclaims allowed in part.