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Results: 1-9 of 9

Rainy Sky SA v Kookmin Bank

  • Morton Fraser
  • -
  • United Kingdom
  • -
  • February 15 2010

Rainy Sky (the Buyer) contracted to buy a vessel from a shipbuilding company (the Builder) and agreed to pay for the vessel in instalments before delivery

Is a P & I Association able to change its mind over what is covered by a policy?

  • Morton Fraser
  • -
  • United Kingdom
  • -
  • February 28 2012

The recent case of Micoperi SRL v. Shipowners’ Mutual Protection & Indemnity Association (Luxembourg) addressed a situation where a P & I Association first accepted that a claimant was covered but consequently tried to claim otherwise

Dolphin Tankers v China Shipbuilding Trading Co

  • Morton Fraser
  • -
  • United Kingdom
  • -
  • February 15 2010

Dolphin Tankers, (the Buyer) applied to court to oblige China Shipbuilding Trading Co (the Builder) to allow it to carry out testing of welds on a ship under construction

The need for loss in awarding damages for breach of contract

  • Morton Fraser
  • -
  • United Kingdom
  • -
  • September 20 2011

A recent shipping case highlighted the need for loss to be established before compensatory damages can be awarded under English law

Refund guarantee doesn’t extend to the insolvency of the builder

  • Morton Fraser
  • -
  • United Kingdom
  • -
  • February 16 2011

In our Spring 2010 e-news we reported on the case of Kookmin Bank which dealt with the interpretation of a refund guarantee between Kookmin Bank (the "Bank") and the customer of an insolvent shipyard

Court considers common sense rule in interpretation of contracts involving refund guarantees

  • Morton Fraser
  • -
  • United Kingdom
  • -
  • November 30 2011

In the case of Rainy Sky SA v Kookmin Bank, the UK Supreme Court considered the correct interpretation of refund guarantees which were issued by Kookmin Bank to the Purchaser in respect of advance payments made by the latter under a shipbuilding contract

What constitutes a performance bond?

  • Morton Fraser
  • -
  • United Kingdom
  • -
  • February 16 2011

Mertiz (the "Guarantor"), an insurance company, had issued advance payment guarantees to Jan de Nul (the "Buyer") guaranteeing the repayment of payments made by the Buyer under 3 shipbuilding contracts with a Korean shipbuilding company (the "Builder"

Liability of banks for refusing payment under letters of credit

  • Morton Fraser
  • -
  • United Kingdom
  • -
  • September 20 2011

In Fortis Bank SANV v Indian Overseas Bank, the court considered the liability of a bank for failing to honour five letters of credit issued by it

ENE Kos v. Petroleo Brasileiro SA Petrobras (The Kos) 2010

  • Morton Fraser
  • -
  • United Kingdom
  • -
  • July 30 2010

By a charterparty on Shelltime 3 form dated 2 June 2006, the owners (the "Owners") chartered the MT Kos to the charterers (the "Charterers") for 36 months (plus or minus 15 days at the Charterer's option