Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

GLENCORE GRAIN LTD. v. AGROS TRADING CO.

[1999] 2 Lloyd's Rep. 410

COURT OF APPEAL

Before Lord Justice Kennedy Lord Justice Otton and Lord Justice Clarke

Arbitration - Award - Set-off - Award made in favour of plaintiffs against defendants and award made in favour of third party against plaintiffs - Third party assigned award to defendants - Application to enforce awards - Plaintiffs claimed to be entitled to set off against their liability under award “washout” debts due to them from third party before assignment - Whether washout debts set off against award before proceedings began - Whether assignment subject to washout debt - Whether washout debt enforceable to enable plaintiffs to set it off against liability under award.

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