Jiansu Shagang Group Ltd v Loki Owning Company Ltd [2018]

Jiansu Shagang Group Ltd v Loki Owning Company Ltd [2018] EWHC 330 (Comm) - 1 March 2018 (Carr J.)

“A long-term time charter with a London arbitration clause provided that charterers' obligations were to be guaranteed by JSG. Following repudiation by charterers (later in liquidation), owners pursued their substantial hire and damages claim against JSG in arbitration, the Tribunal, on a preliminary issue, ruling in favour of its own jurisdiction. The Court on a re-hearing under s67, allowed JSG's challenge to the award, finding that the guarantee had been neither approved nor authorised by them. In so finding the Judge acknowledged owners' disappointment, given the Tribunal's intervening substantive award of USD68 million in owners' favour but commented that this could not distort the central factual issue upon which she had ruled.”

Christiana Raptaki
E. G. Arghyrakis & Co.
14th March 2018