MARSHALL Ã¯Â¿Â½ Alleging breach of contract and seeking more than $1.2 million, Tyler company TTI Tubulars has filed suit against Petroleum Pipe Company LTD of London on April 14, 2009 in the Marshall Division of the Eastern District of Texas.
TTI Tubulars is a broker for oil field casings and Petroleum Pipe sells oil filed casing.
TTI alleges that it sent purchase orders to Petroleum Pipe, which Petroleum Pipe confirmed in writing and committed to selling in a particular size, grade and quantity of casing for a particular price for future delivery.
The plaintiff states that on three separate occasions Petroleum Pipe reneged on their commitment to sell a particular quantity of casing.
According to court documents, Petroleum Pipe told TTI that it needed to fulfill other orders for Oxy Petroleum and therefore, would not be able to meet its commitment.
The plaintiff claims it lost more than $3.1 million in lost revenues and more than $1.2 million in lost profits.
The complaint accuses the defendant of breach of contract, common law fraud, fraud in the inducement and promissory estoppel.
Arguing the defendant's conduct was with a conscious indifference, the plaintiff is seeking exemplary damages.
Tyler attorney William S. Hommel, Jr is representing the plaintiff.
U.S. District Judge T. John Ward will preside.
Case No 2:09cv00110