Glencore cleared to pursue $236m fraud claim against Lindsey refinery

Glencore, PLOR's crude supplier from 2024, wants the sales unwound and seeks recovery of the oil or its value from assets now held by the Official Receiver, a proprietary claim that could rank it ahead of ordinary creditors. PLOR had argued Glencore lost that right on entering liquidation, citing the Crown Holdings precedent, but the judge found Glencore's case arguable and allowed proceedings to continue.

A win for Glencore could significantly reduce funds available to other creditors. The underlying fraud allegations remain untested and will proceed to trial.