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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.