Palmali Files USD 2 Billion Claim Against Litasco

Image Courtesy: Palmail

Palmali, a Turkey-based shipping company has filed a claim worth approximately USD 2 billion against Litasco, the international marketing and trading company of Lukoil.

According to Reuters, the claim, lodged with the English High Court of Justice,  from the alleged failure by Litasco “to provide contractual quantities of cargo under long-term contract between the companies.”

Palmali also told Reuters, that the case involved a breach of contract, “amounting to just under USD 2 billion plus interest and costs.”