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Judgment: OMV Petrom and Glencore International AG

The Court of Appeal has today handed down an important judgment as to the effects of CPR Part 36 and in particular the Court's powers to award enhanced interest. It is the latest decision in a long-running dispute between Petrom (a Romanian oil company) and Glencore, Glencore having deceitfully sold "counterfeit" cargoes of crude oil to Petrom's predecessors in title during the 1990s.  

A case summary and the judgment can be read here.

Duncan Matthews QC and Andrew Fulton represented Petrom. 

Relevant members: