Excalibur Ventures Llc v Texas Keystone Inc and Others: ComC 10 Sep 2013

Excalibur claimed to be entitled to an interest in a number of oil fields in Kurdistan, which are potentially extremely profitable, and of which the Shaikan field is the most important. The claim was for specific performance of a ‘Collaboration Agreement’ pursuant to which Excalibur claimed its entitlement to an interest in the fields or to damages which, as finally put, were said to be of the order of US $ 1.6 billion.
Held: The claim failed on every point, whether put in contract, which was the primary claim, or in tort, where five causes of action were pursued: interference with contract, interference with business relations, breach of fiduciary duty, fraud by misrepresentation and fraud by concealment. The claim did not fail narrowly or on the basis of abstruse legal doctrine upon which two views might be possible. It failed because Excalibur had failed to establish any contract with Gulf.

Christopher Clarke LJ
[2013] EWHC 2767 (Comm)
England and Wales
See AlsoExcalibur Ventures Llc v Texas Keystone Inc and Others ComC 28-Jun-2011
The court gave its reasons for the grant of an order restraining the claimant from also pursuing arbitration proceedings at the International Court of Arbitration.
Held: Gloster J was, found on the evidence then before her a strong arguable . .

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Contract, Torts – Other

Updated: 27 November 2021; Ref: scu.518979