SG Courts’ Post

The Singapore Court of Appeal has sided with the liquidators of collapsed ship chartering company Ocean Tankers and dismissed a creditor’s appeal to allow a claim assignment completed after the company entered judicial administration, in a judgment hailed as “a very lucid clarification that would greatly help insolvency practitioners". https://lnkd.in/eAe4F3qR

Our MD, Baldev Bhinder speaks to ALB on our experiences on trade fraud and asset recovery over the years. We talk about the keys to asset recovery - Speed - Multi-jurisdictional know-how - Practical implications of trying to seize and sell cargo overseas - Legal remedies against the debtor - Legal remedies against third parties such as ship owners, tank operators. Which legal tool to apply? Freezing injunction, receiver or insolvency? Full article: https://lnkd.in/gpMSEGYx

Mike Phillips and I share our thoughts on a recent decision which sheds light on the law as to undisclosed principals and the associated liability under letters of indemnity. Please let me know if you wish to discuss! #shipping #martime #disputes #LOI

Check out this short article from me and my colleague Archit Dhir on the recent ‘Xing Zhi Hai’ case, which reaffirms the doctrine of separate corporate personality in the context of shipping law. #WFW #SHIPPINGLAW #MARITIME

“Point of Law” – Post 104: The “Skyros” and “Agios Minas” – where two vessels were redelivered late under time charters and the prevailing market rate was above the charter rate payable for the overrun period but owners were obliged on redelivery to deliver the vessels to buyers under ship sale and purchase agreements, owners were not entitled to substantial damages, based on the difference between the charter rate and the higher prevailing market rate for the overrun period, because owners had suffered no loss of opportunity to take advantage of the prevailing market rate during the overrun period – see https://lnkd.in/d_KpRmix #shipping #maritimelaw #arbitration #litigation

The Supreme Court has handed down judgment in Fimbank Plc v KCH Shipping Co Ltd [2024] UKSC 38. The judgment clarifies the applicability of the time bar in both the Hague and Hague Visby Rules to claims for misdelivery after discharge.

In the landmark case of Jet Airways the Hon'ble Supreme Court, while referring to IFCI Ltd. v. Sutanu Sinha and Others (2023 SCC OnLine SC 1529), emphasized that the scope of an appeal under Section 62 of the Insolvency and Bankruptcy Code (IBC) is confined to a “question of law.” This principle ensures precision in appellate proceedings and preserves the sanctity of statutory interpretations. #InsolvencyAndBankruptcyCode #IBC #SupremeCourt #JudicialPrinciples #QuestionOfLaw #LandmarkCase #LegalUpdate #AdvocateDesk #LawPractice #LegalInsights

Force majeure clauses in contracts release parties from their contractual obligations if a major event, such as a natural disaster, occurs. But that is only if the event couldn't be avoided by taking reasonable steps. The Supreme Court in RTI v Mur Shipping has determined a party's refusal to accept contractual payment in another currency was not a failure to exercise reasonable steps. Somewhat harsh for the charterer who offered to pay the contracted sum in another currency but contractual certainty was considered by the SC to be more important. Read our analysis here https://lnkd.in/eR2pzky8

𝐑𝐓𝐈 𝐋𝐭𝐝 𝐯 𝐌𝐔𝐑 𝐒𝐡𝐢𝐩𝐩𝐢𝐧𝐠 𝐁𝐕 Reasonable endeavours provisos do not require parties to accept non-contractual performance The Supreme Court has given judgment in RTI Ltd v MUR Shipping BV [2024] UKSC 18 on the interpretation of a force majeure clause in a shipping contract containing a proviso that parties are to make reasonable endeavours to overcome the force majeure event. In unanimously allowing the appeal, it concluded that such proviso does not oblige parties to accept an offer of non-contractual performance – even where this would achieve the same result as contractual performance and cause no detriment. The decision has general application to force majeure clauses in all commercial contracts. ⬇ Read the full article by Thomas Mitty ⬇ https://lnkd.in/dEAMF8Rf #supremecourt #cdr #barristers

Sylvie Allen has written a very interesting article in the SkuldCharterer on the importance of who/which entity is signing the LOI - well worth a read for all of our charterers & traders!