Facts
- BP agreed to research Hunt’s land and build refineries, in return for half the profits once profitable under 125% of expenses had been reclaimed
- The Libyan Government reclaimed the land, compensating Hunt
Issue
- Could BP recover a just sum for the non-money resources which they had already put into the project under s 1(3) of the Law Reform (Frustrated Contracts) Act 1943?
Decision
- Yes
Reasoning
- Fair award
