CADOGAN PETROLEUM HOLDINGS LTD v GLOBAL PROCESS SYSTEMS LLC

[2013] 2 Lloyd's Rep. 26

QUEEN'S BENCH DIVISION(COMMERCIAL COURT)

Before Mr Justice EDER

Sale of goods – Property passed to buyer – Sums paid and owing to seller – Whether seller entitled to recover sums payable and to retain sums paid and the subject matter following termination of sale contract – Construction of contract – Relief from forfeiture – Rule against penalties – Total failure of consideration.