Shell Asks Texas High Court To Revive Late Oil Delivery Suit

Law360, Houston (October 25, 2012, 2:33 PM EDT) -- Shell Trading US Co. asked Texas’ highest court Wednesday to revive its suit against Lion Oil Trading and Transportation Inc., arguing that it is entitled to collect the full contract price on 220,000 barrels oil delivered late as a result of a hurricane.

In its petition for review filed with the Texas Supreme Court, Shell claims that a balancing provision contained in a series of buy-sell contracts the companies inked locked in the price of the oil as long as Shell made up for the late...
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