Global commodity trader Glencore claims it was tricked into supplying crude oil worth more than US$230 million to a British refinery; the refinery never paid for the goods after receiving the goods, and declared itself insolvent last year. Glencore is currently applying for court permission to sue the Prax Lindsay refinery to cancel the relevant supply contract. Glencore argues that these contracts were fraudulently concluded. According to the lawsuit documents, once Glencore wins the lawsuit, the proceeds corresponding to this batch of crude oil will be independently allocated and not included in the bankruptcy asset pool that can be distributed to other creditors.

Global commodity trader Glencore claims it was tricked into supplying crude oil worth more than US$230 million to a British refinery; the refinery never paid for the goods after receiving the goods, and declared itself insolvent last year. Glencore is currently applying for court permission to sue the Prax Lindsay refinery to cancel the relevant supply contract. Glencore argues that these contracts were fraudulently concluded. According to the lawsuit documents, once Glencore wins the lawsuit, the proceeds corresponding to this batch of crude oil will be independently allocated and not included in the bankruptcy asset pool that can be distributed to other creditors.