Glencore is pursuing $230 million in unpaid oil payments.

The global commodity trader Glencore has claimed it was deceived into supplying over $230 million worth of crude oil to a UK refinery; the refinery has never paid for the goods after receiving them and declared insolvency last year. Glencore is currently seeking court permission to sue Prax Lindsay Refinery, requesting the cancellation of the relevant supply contracts. Glencore asserts that these contracts were entered into through fraudulent means. According to court documents, if Glencore wins the lawsuit, the proceeds from this batch of crude oil will be independently earmarked and excluded from the pool of bankruptcy assets available for distribution to other creditors.