Turkey-based tanker operator Palmali has lost a $120m case against the trading arm of Russian oil producer Lukoil over a purported deal to provide oil products.
The shipowner, controlled by
Turkey-based tanker operator Palmali has lost a $120m case against the trading arm of Russian oil producer Lukoil over a purported deal to provide oil products.
The shipowner, controlled by Azerbaijan-born businessman Mubariz Mansimov, first sued Swiss subsidiary Litasco for $2bn at the English High Court in 2017.
The claim has been cut in subsequent years, after Litasco had much of the legal action thrown out in 2020.
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