Ship Owners Fight UniCredit's $26M Claim Of Misdelivered Oil

Law360, London (February 18, 2021, 5:14 PM GMT) -- Ship owner Euronav NV has denied delivering tons of oil to unknown third parties in the United Arab Emirates after UniCredit Bank AG sued for $26.3 million over allegedly mishandled cargo. 

UniCredit claimed in its January High Court suit that it provided a line of credit to Gulf Petrochem FZC (Gulf) so it could purchase the oil from BP. However, the two sides disagree over who had assigned rights to give delivery instructions for the cargo and which shipping documents they were bound by.

Euronav denied in its defense filed on Monday that it "misdelivered" some of the oil. Instead, the company argued,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!