The effect of the liquidation of Pioneer in December 2009 was to bring about Automatic Early Termination under a Master Agreement between the parties. In essence, the dispute between the parties is as to whether the closing out or ‘wash-out’ calculations which Pioneer then undertook pursuant to Section 6 of the Master Agreement should or should not include those FFAs where the last Contract Month under each such FFA had passed prior to December 2009.
Flaux J
[2011] EWHC 1692 (Comm), [2011] 2 All ER (Comm) 1079, [2011] 2 Lloyd’s Rep 409, [2011] 2 CLC 184
Bailii
England and Wales
Updated: 04 July 2021; Ref: scu.441450