Valency International Trading Pte Ltd v Alton International Resources Pte Ltd - High Court of Singapore)(Jordan Tan AR) - 3 March 2011

(2011) 820 LMLN 2

Sale of goods - Repudiatory breach - Sale of iron ore fines - Sellers renouncing agreement before commencement of laycan - Buyers insisting that sellers should perform agreement but refusing to open letter of credit because that would be "futile2 - Buyers claiming damages against sellers for repudiatory breach - Whether claim should be struck out as being unsustainable

On 27 July 2009 the plaintiff buyers and the defendant sellers agreed that the defendants would sell to the plaintiffs 65,000 mts of iron ore fines at US$86 per mt with a laycan period from 1 to 10 August 2009.