Chemical Trader Owes $3.6M For Botched Deal, Judge Says

Law360 (July 30, 2020, 4:51 PM EDT) -- A New York federal judge has approved a nearly $3.6 million judgment against a chemicals trader for a botched deal it made with an Australian energy company to ship petrochemical byproducts from Saudi Arabia to India.

U.S. District Judge Philip M. Halpern, agreeing with the recommendations of Magistrate Judge Paul E. Davison, said that PBR Sales LLC had made negligent misrepresentations and breached a contract with Liberty Petroleum Trading International Inc.

Because of that, Liberty sent millions of dollars for petroleum coke to a Saudi supplier identified by PBR, but the product was never delivered to the ship hired to take...

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