Alta Trading UK Limited & Ors v Peter Miles Bosworth & Ors
| Court | Queen's Bench Division (Commercial Court) |
| Judge | Mr Justice Henshaw |
| Judgment Date | 22 January 2025 |
| Neutral Citation | [2025] EWHC 91 (Comm) |
| Date | 22 January 2025 |
| Year | 2025 |
| Counsel | Karim,Danielle Carrington,Amber Turner,Richard Eschwege Kc,Tom Sprange Kc,Freddie Popplewell,Alec Haydon Kc,David Heaton,Emily Albou,Ali Al Karim |
Neutral Citation Number: [2025] EWHC 91 (Comm)
Case No: CL-2015-000047
IN THE HIGH COURT OF JUSTICE
BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES
KING'S BENCH DIVISION
COMMERCIAL COURT
Royal Courts of Justice
Rolls Building, Fetter Lane,
London, EC4A 1NL
Date: 22/01/2025
Before :
THE HONOURABLE MR JUSTICE HENSHAW
- - - - - - - - - - - - - - - - - - - - -
Between:
(1) ALTA TRADING UK LIMITED (formerly
known as ARCADIA PETROLEUM LIMITED)
(2) ARCADIA ENERGY (SUISSE) SA
(3) ARCADIA ENERGY PTE. LTD.
(4) FARAHEAD HOLDINGS LIMITED
Claimants
- and -
(1) PETER MILES BOSWORTH
(2) COLIN HURLEY
(3) STEPHEN CLIVE LANGFORD GIBBONS
(4) MARK RICHARD LANCE
(5) STEVEN KELBRICK
(6) SALEM CHUCRI MOUNZER
(7) ARCADIA PETROLEUM SAL OFFSHORE
(8) ARCADIA PETROLEUM LIMITED,
MAURITIUS
(9) ATTOCK OIL INTERNATIONAL LIMITED,
MAURITIUS
(10) THE CORNHILL GROUP LIMITED
Defendants
- - - - - - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - - - - - - - - -
Alec Haydon KC, David Heaton, Emily Albou, Ali Al-Karim, Danielle Carrington and
Amber Turner (instructed by Grosvenor Law LLP) for the Claimants
Richard Eschwege KC (instructed by Quinn Emanuel Urquhart & Sullivan UK LLP) for
the First and Second Defendants
Tom Sprange KC and Freddie Popplewell (instructed by King & Spalding International
LLP) for the Fifth and Ninth Defendants
The Seventh and Eighth Defendants did not appear and were not represented
Hearing dates: 7-10, 13-17 and 20-23 May, 4-5, 10-11, 17-21 and 24-28 June, 1-5, 22-23, 25-26
and 28 July 2024
Draft judgment circulated to parties: 16 December 2024
- - - - - - - - - - - - - - - - - - - - -
Approved Judgment
.............................
Mr Justice Henshaw
Approved Judgment
Alta Trading v Bosworth
Page 3
Mr Justice Henshaw:
(A) INTRODUCTION ................................................................................................... 6
(B) OVERVIEW OF PARTIES AND CLAIMS ........................................................... 7
(C) WITNESSES OF FACT ........................................................................................ 10
(D) EXPERT EVIDENCE ........................................................................................... 16
(E) DOCUMENTS....................................................................................................... 17
(F) WEST AFRICAN OIL TRADING........................................................................ 20
(1) Risks, use of contract holders and sleeving........................................................ 20
(2) Obtaining term contracts, sponsors and service providers ................................. 24
(3) Service providers’ ongoing role ......................................................................... 27
(4) Remuneration of intermediaries and service providers ...................................... 29
(5) Special purpose companies ................................................................................ 35
(G) PRE-2005 ACTIVITIES OF ARCADIA, ATTOCK AND MR KELBRICK ...... 35
(1) Origins and development of the Arcadia Group and Attock Mauritius ............. 35
(2) Physical and paper trading ................................................................................. 37
(3) Service providers ................................................................................................ 43
(4) Pang Ling ........................................................................................................... 47
(5) Tristar, Mr Decker and Arcadia Mauritius ......................................................... 48
(6) The Sao Tome Contract...................................................................................... 50
(7) Mr Kelbrick leaves Arcadia ............................................................................... 52
(H) FARAHEAD’S ACQUISITION OF ARCADIA AND SURROUNDING
EVENTS ...................................................................................................................... 58
(1) Principal Search briefing paper .......................................................................... 58
(2) Frontline’s objectives ......................................................................................... 63
(3) Frontline comparison document and April 2005 meeting .................................. 64
(4) Service providers, risks and Beirut office proposal ........................................... 65
(5) Alleged Bosworth continuing control of Arcadia Mauritius .............................. 72
(6) Sleeving arrangements ....................................................................................... 76
(7) Summer 2005 discussions of bonuses ................................................................ 78
(8) Linklaters due diligence and Pang Ling ............................................................. 79
(9) Discussions and events in autumn 2005 ............................................................. 80
(10) Business with Attock Mauritius ....................................................................... 86
(11) The Zafiro Contract and Sonergy ..................................................................... 87
(12) Completion of Farahead’s purchase of Arcadia ............................................... 99
(13) Memorandum of Understanding with Concerto............................................... 99
(I) SUBSEQUENT EVENTS .................................................................................... 100
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1 cases
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Alta Trading UK Ltd (formerly known as Arcadia Petroleum Ltd) v Peter Miles Bosworth
...must equally fall away or be disallowed. Whether Reply amendments are consequential 45. In case I am wrong in the conclusions I reach[2025] EWHC 91 (Comm) THE HONOURABLE Mr Justice Henshaw Case No: CL-2015-000047 IN THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES......
