FSL-9 PTE Ltd & An or v Norwegian Hull Club [2016]

FSL-9 PTE Ltd & An or v Norwegian Hull Club [2016] EWHC 1091 (Comm) (10 May 2016)

“In an LOU dispute between Owners and Charterers' P&I Club, the LOU's use of the words "liberty to apply" did not mean undersecured Owners could apply to the Court for an increase in the amount of the LOU. Any right to enforce an increase in the amount of security lay against Charterers and not against the P&I Club directly, and in the event security was inadequate, Owners were not prevented from arresting Charterers' assets.”

Vasilis Bikakis
E. G. Arghyrakis & Co.
08th June 2016