logoBC
Yaoundé - 26 January 2021 -

BannerICBC2021

Public management

Glencore sues SONARA before English courts over alleged dues

Glencore sues SONARA before English courts over alleged dues
  • Comments   -   Friday, 11 September 2020 16:44

(Business in Cameroon) - State-owned refinery SONARA was sued before the High Court of Justice in London, according to specialized news outlet Énergies Média, which quotes Law360, a website specializing in legal affairs and commercial litigation.  

Before this English court, Glencore Energy UK Ltd (a subsidiary of Swiss commodities trader Glencore), via the law firm Ince Gordon Dadds, is demanding the payment of €14.7 million, i.e XAF9.6 billion.

According to Glencore, this amount represents, for the most part, late payment penalties in connection with a supply contract where 1.6 million barrels of crude oil were delivered to SONARA between November 2012 and January 2015. The Swiss trader sued its partner for not paying their invoice within the contractual deadlines. Most of the payment demanded is made of interests Glencoe deemed entitled to, however, Law360 adds.

Sonara has not officially reacted to this legal procedure launched before the British courts (since June 2020 and revealed by Law360 on August 11, 2020.)  

Brice R. Mbodiam

cameroon-155-advertising-companies-approved-to-operate-this-year
Minister of Communication René Emmanuel Sadi recently published a list of 155 companies authorized to carry out advertising consulting and...
cameroon-water-utility-camwater-seeks-suppliers-for-11-500-conventional-water-meters
Gervais Bolenga (general manager of Cameroon water utilities corporation-Camwater) announces that he recently issued a national call for tenders...
cemac-cameroon-proceeds-to-provisional-acceptance-of-150-km-of-roads-linking-the-country-to-congo
The Cameroonian Ministry of Public Works (Mintp) informs that today January 26, 2021, it will proceed to the provisional acceptance of 150 kilometers of...
cameroon-estimated-at-140-170-tons-in-2020-local-rice-production-covered-only-24-of-demand-minader-reveals
In 2020, Cameroon’s local production covered just 24.3% of its rice demand, according to figures published by the Ministry of Agriculture  (MINADER)....

Mags frontpage


Business in Cameroon n94: December 2020

The rise of Cameroon’s automotive industry


The «Made in Cameroon» war


Investir au Cameroun n104 Décembre 2020

L’émergence d’une industrie automobile camer


La bataille du « Made in Cameroon »