Retirement, Saving & Welfare ........ (appellant) v Crescent Gas Corporation Ltd & anr (respondents) скачать в хорошем качестве

Retirement, Saving & Welfare ........ (appellant) v Crescent Gas Corporation Ltd & anr (respondents)

Tuesday 15 – Thursday 17 July 2025 (1) Retirement, Saving & Welfare Fund of Oil Industry Workers (appellant) v Crescent Gas Corporation Ltd & anr (respondents) (2) National Iranian Oil Company (appellant) v Crescent Gas Corporation Ltd & anr (respondents) Before The Chancellor of the High Court Lady Justice Falk Lord Justice Zacaroli (1) By an Appellant’s Notice, filed on 29 May 2024 the Appellant appeals the Order, dated 15 April 2024 by Sir Nigel Teare sitting as a High Court Judge in the Commercial Court in which the Judge dismissed the application. (2) By an Appellant’s Notice, filed on 29 May 2024 the Appellant appeals the Order, dated 17 May 2024 by Sir Nigel Teare sitting as a High Court Judge in the Commercial Court in which the Judge dismissed the application and made costs orders. Background to these appeals – Retirement, Saving and Welfare Fund of Oil Industry Workers, the second Defendant, is a closely related entity to National Iranian Oil Company (NIOC), an Iranian state-owned oil and gas company who is the Judgement Debtor. The Judgement Creditor is Crescent Gas Corporation Limited (CGC), a private limited company who is a subsidiary of Crescent Petroleum Company International Limited (CPIL). CPIL is a privately owned exploration and production company in the Middle East. On 25 April 2001 CPCIL entered into a 25-year term Gas Sales and Purchase Contract (GSPC) with NIOC. CPCIL assigned its rights under the GSPC to CGC (its wholly owned subsidiary) on 26 July 2003. NIOC failed to supply any gas pursuant to the GSPC leading to CGC commencing arbitral proceedings pursuant to the GSPC by Notice of Arbitration of 15 July 2009. CGC eventually secured an award of damages.