The relevance of market expert evidence in determining whether a deal has been done
This briefing focuses on Proton Energy Group SA v Public Company Orlen Lietuva  EWHC (Comm). In this case, in the context of an application for summary judgment, the Commercial Court considered whether or not there was a real issue to be tried as to whether a binding contract had been concluded between the parties based on a review of their negotiations.
Proton Energy Group SA (Proton), a Swiss trader of oil and gasoline related products, and Publicv Company Orlen Lietuva (Orlen), a petroleum refining company incorporated in Lithuania, exchanged e-mails regarding the sale and purchase of crude oil mix. The parties accepted that the following exchanges had occurred:
- Proton e-mailed Orlen a “firm offer” to sell CIF Butinge, Lithuania 25,000mt +/- 10% in Seller’s option of crude oil mix CN27090090, European origin as per the specifications attached, with delivery period at the discharge port during 10-15 July 2012 and at a price based on five quotations after the bill of lading date.
- E-mail correspondence continued between the parties on the same day, culminating in a oneword e-mail from Orlen stating “Confirmed”…
If you are registered and logged in to the site, click on the link below to read the rest of the Ince & Co briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Ince & Co
News from The Lawyer
Briefings from Ince & Co
The Court of Appeal has confirmed the meaning of the expression “in-transit loss” in a voyage charter party in the Trafigura Beheer case.
A recent Commercial Court decision considered the position when a contract provides for the law of one jurisdiction to be applicable, but for the arbitration to take place outside that jurisdiction.