Case Summaries
Trafigura Beheer BV V Renbrandt Ltd [2017]
“More than 7 years after delivery, the buyer of a consignment of gasoil filed a complaint in Nigeria, alleging that it was "off-spec". The sale contract was subject to English law and jurisdiction and the seller sought a declaration of non-liability from the English Commercial Court, on a summary basis. The Court rejected the buyer's argument that the claim for a declaration was time-barred, ruling that there is no accrual date for a claim that a person has not broken a contract. The Court also noted that to hold otherwise would strip the seller of protection against an otherwise time-barred claim being pursued in a non-contractual jurisdiction.”
Dana Gas PJSC v Dana Gas Sukuk Ltd & Ors [2017]
“The repayment of a loan is often accompanied by an increase in the amount repaid, "called interest by those who think it lawful and usury by those who do not". The English Court found that an agreement governed by English Law remained valid even though it would offend against the principles of Shari'a law in the country where it was to be performed.”
Marathon Asset Management LLP and Another v James Seddon & Qrs [2017]
“An illustration of the principle that a claimant recovering only nominal damages has really 'lost so that the Court will approach costs on the basis that the defendant is really the successful party; in this case the claimant was required to pay a percentage of the defendants' costs plus interest at 2% above base rate, from the time solicitors' fees were paid.”