• Jurisdiction and Arbitration clauses: The New Spanish Shipping Act

    The long expected Spanish Shipping Act –Ley 14/2014, de 24 de Julio, de Navegación Marítima– (hereinafter referred as “LNM”), finally came into force on 25 September 2014 after three separate attempts over the last twenty years. Its 524 articles cover all aspects of shipping law in depth, both private and public. Ultimately, it is expected […]

  • Spanish new regualtion on marine liability insurance

    by Bernardo Ruiz Lima and Victor Mata Introduction After many years of discussing drafts, the Spanish Navigation Act finally came into force on 25th September 2014. The Act fulfils the need of embodying, updating and harmonizing the dispersed Spanish maritime regulation, formerly mainly enacted in the Commercial Code dated 1885 but with many other spread […]

  • Can A Ship Owner Exclude His Right To Limit Liability By Contract?

    by Ben Browne By Section 185 and Schedule 7 Merchant Shipping Act 1995 pursuant to the Convention on Liability for Maritime Claims 1976 (“LLMC”) ship owners can limit their liability in respect of loss of life and personal injury, or loss of or damage to property occurring on board, claims in respect of loss resulting […]

  • “Putting one’s cards face upwards on the table”:

    by Mark Sachs and Hannah Brown “I respectfully suggest that the traditional English hostility towards a doctrine of good faith in the performance of contracts, to the extent it still persists, is misplaced”. So wrote Leggatt J in his 2013 High Court Judgment in Yam Seng Pte Limited v International Trade Corporation Limited1, implying the […]

  • “”CELTIC PIONEER”: Feest v South West Strategic Health Authority and Bay Island Voyages

    Is it possible to circumvent the two year time limit prescribed by Art 16 of the Athens Convention when bringing a claim for contribution or indemnity?

  • The Gherkin

    Equator Principles

    by Alex Monk On 21 July 2014, the Equator Principles Association (EPA) published an Implementation Note on the Equator Principles 2013. The document contains information to support the understanding of the requirements in, and implementation of, the Equator Principles (EPs). The EPs are a framework of voluntary social and environmental guidelines used to identify, assess […]

  • The Gherkin

    Recent Court of Appeal judgment on “the life blood of international commerce” – letters of credit

    by Alexandra Shipulina In October 2014 the Court of Appeal delivered judgement in Standard Chartered Bank v Dorchester LNG (2) Limited (“The Erin Shulte”) [2014] EWCA Civ 1382 in which significant issues relating to letters of credit (“LC”) and bills of lading (“BL”) were considered. Gunvor International B.V. (“Gunvor”) sold gasoil to United Infrastructure Development […]

  • Unfair relationship? – Follow the guidance

    by Kate Harrison With one in four people in the UK now expected to experience mental health problems at some time in their lives, a recently reported Court of Appeal decision highlights the need for lenders to follow best practice guidance when enforcing their security in order to avoid a claim of unfair relationship. In […]

  • The Gherkin

    Letters of Credit and the fraud exception

    The highly limited availability of fraud as a defence against payment under letters of credit has been re-emphasised by the Privy Council (“PC”) in an appeal case from the Mauritius Court of Appeal.

  • Lloyds Building external at night

    Inventory Finance and a View on Qingdao

    by Alex Monk and Mark Sachs The investigation into falsified warehouse receipts, the warehouse lock-down and fraud investigation against Decheng Mining (and others) in the Chinese port of Qingdao has raised many questions over the robustness and confidence of warehouse finance in China, both among international banks and traders directly exposed in the affair and […]