Changes

“Except as specifically provided in the Special Provisions or in Section 12.4, in no event… shall either party be liable to the other, whether under the Agreement or otherwise in connection with it… in respect of any indirect or consequential losses or expenses including (without limitation) if and to the extent that they might otherwise not constitute indirect or consequential losses or expenses, loss of anticipated profits, plant shut-down or reduced production, loss of power generation, blackouts, or electrical shutdown or reduction, hedging or other derivative losses, goodwill, use, market reputation, business receipts or contracts or commercial opportunities, whether or not foreseeable.”

Cooke J gave judgment in favour of Glencore and awarded damages in the sum of US$2,500,470, being the difference between the contract price and market value of the cargo under ss.50(2) and (3) of the Sale of Good Acts 1979. Section 50 of the Act provided: